Morning Gold & Silver Market Report – 9/19/2013


Precious Metals prices continue to benefit from the U.S. Federal Reserve’s announcement yesterday that quantitative easing will not be tapered at this time.  Standard Chartered analyst Dan Smith said, “If people have a view that this is a game changer for the Fed, then that may change their perception of what's good value for Gold.  (We) are seeing that the Fed will only start tapering in March 2014 because of the change in emphasis from the labor market to inflation.”

Weekly jobless claims numbers jumped as expected after more data was made available from two states who continue to work through a backlog of claims.  Even with the jump, the current level of claims is the lowest in nearly six years.  U.S. stock futures held onto gains after the report.  Stocks have benefitted from the Fed’s announcement yesterday as well, and Garry Evans of HSBC explained, “[If the] Fed tightens because growth is accelerating, that is a positive environment for equities; but if growth slows, the Fed will remain accommodative, which is positive for equities.”

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

  • Gold, $1,369.30, Up $59.70.
  • Silver, $23.30, Up $1.72.
  • Platinum, $1,471.90, Up $45.70.
  • Palladium, $726.40, Up $24.30.

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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
4/24/2014 3:27:03 AM EST

Metal Bid Ask Change
Gold $1,285.40 $1,287.40 $0.80
Silver $19.33 $19.43 ($0.06)
Platinum $1,391.30 $1,401.30 ($2.60)
Palladium $782.30 $787.30 $0.30
4/24/2014 3:27:03 AM EST

Click here for Historical Charts*All Charts are in USD

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