Morning Gold & Silver Market Report – 9/11/2013

GOLD TREADS WATER AFTER POSSIBLE SYRIAN RESOLUTION

The Gold price is trading mostly flat while Silver, Platinum and Palladium prices are gaining ground after U.S. President Barack Obama’s speech on Syria yesterday. Obama said he would explore the Russian-supported diplomatic solution of Syria giving up its chemical weapons. Danske Bank analyst Christin Tuxen said, “The fact that the Syrian situation is all back to a diplomatic solution is something that is not really supporting Gold or crude oil right now and the moves lower seen in the past sessions were merely due to that.”

U.S. stock futures are pointing toward a lower open on Wall Street this morning. Obama’s speech was part of the reason, but it seems that many investors are now looking mainly at next week’s U.S. Federal Reserve meeting and whether a decision to taper the quantitative easing program will be made. Stephen Pope of Spotlight Investing said, “Looking at the schedule of economic and Treasury auctions, I see little that would outweigh the sense of waiting for the [Federal Open Market Committee] communiqué.”

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,363.70, Down $2.40.
  • Silver, $23.10, Up $0.06.
  • Platinum, $1,479.60, Up $4.50.
  • Palladium, $700.30, Up $8.60.
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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
4/24/2014 10:39:41 AM EST

Metal Bid Ask Change
Gold $1,288.20 $1,290.20 $3.40
Silver $19.54 $19.64 $0.15
Platinum $1,396.50 $1,406.50 $2.60
Palladium $793.00 $798.00 $11.10
4/24/2014 10:39:41 AM EST

Click here for Historical Charts*All Charts are in USD


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