Our Daily
Market Reports

Closing Gold & Silver Market – 9/23/2013

PRICES FLAT AMONGST MIXED MARKET SIGNALS

Precious Metal prices continued to give up gains from previous sessions through afternoon trading. Speculation on when the Federal Reserve will begin to taper its quantitate easing program have affected recent prices. Robert Pavlik, chief market strategist at Banyan Partners said, “Tapering might begin as soon as October or they might hold off until a new [Fed] chairman is elected. The comments and the message the Fed sent last week is the economy is still on some soft footing and doesn’t have the strength to begin this process — that’s not a good message to send.”

The Federal Reserve’s new chairman is continuing to be discussed and debated. Dallas Federal Reserve President Richard Fisher said the process has been “terribly mishandled” and the selection “should not be a public debate.” The next chairman’s policies will have an effect on markets depending on how opposed or favorable they are to the Fed’s current monetary easing policies.

At 5:15 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,324.30, Down $10.20.
  • Silver, $21.66, Down $0.30.
  • Platinum, $1,423.40, Down $10.20.
  • Palladium, $715.00, Down $6.00.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

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Disclaimer:
APMEX’s ‘Market Reports’ 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.

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