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

TWIN CONCERNS’ KEEP GOLD PRICE STEADY

The Gold price remained flat in morning trading amid speculation over the U.S. Federal Reserve’s quantitative easing (QE) program and concerns over U.S. involvement in the situation in Syria. Speaking to last week’s economic data, VTB Capital’s Andrey Kryuchenkov said, “The much-awaited U.S. August jobs report provided little insight into the Fed's policy decision on September 17-18. [The decision on QE tapering] can still go either way, and players will choose to play it safe without committing to fresh longs until then.”

U.S. stocks are trading higher, though European stocks fell overnight. Richard Hunter of Hargreaves Lansdown said, “We saw a reasonable start today on the back of some decent economic data from China and strong Japanese share prices after Tokyo was named Olympic city, but unfortunately we’ve moved back on the twin concerns of Syria and U.S. tapering of QE. The script hasn’t particularly changed from last week and in the absence of any concrete resolutions of those two concerns, markets are likely to stay volatile.”

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

  • Gold, $1,387.50, Down $1.00.
  • Silver, $23.70, Down $0.22.
  • Platinum, $1,484.50, Down $12.20.
  • Palladium, $682.10, Down $13.70.

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Disclaimer:

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
4/20/2014 10:21:06 PM EST

Metal Bid Ask Change
Gold $1,283.90 $1,285.90 ($10.00)
Silver $19.25 $19.35 ($0.30)
Platinum $1,398.00 $1,408.00 ($20.70)
Palladium $788.90 $793.90 ($14.20)
4/20/2014 10:21:06 PM EST

Click here for Historical Charts*All Charts are in USD


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