Mid-Day Gold & Silver Market Report – 9/5/2013


U.S. stocks were higher in morning trading, and US Bank Wealth Management’s Jim Russell said, “The market is reacting to several different crosscurrents, some positive and some elements of uncertainty,” such as Syria and other factors. He continued, “We are going to get more data tomorrow, nonfarm payrolls, which is key, and linked very tightly around Fed taper decisions. And we’ll probably know more next week around Syria, and the uncertainty there. The noises out of the G-20 this weekend could be telling about what path the U.S. might take.”

The Gold price appears to simply be reacting to economic data today. The yellow metal’s price hit a two-week low in morning trading, and Citi analyst David Wilson said, “The main focus is the [U.S. Federal Reserve]. Everyone is trying to pre-judge what the Fed might do, so if the employment numbers are better than expected it will heighten the sense that tapering will be sooner rather than later, and the reverse if the data's below expectations.”

At 1 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,373.90, Down $18.10.
  • Silver, $23.30, Down $0.13.
  • Platinum, $1,483.80, Down $11.90.
  • Palladium, $686.30, Down $10.90.
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APMEX’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

US Dollar Prices are in USD

Precious Metal Prices
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

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