Morning Gold & Silver Market Report – 10/28/2013

GOLD STEADIES AHEAD OF MONTHLY FED MEETING

The Gold price is trading relatively flat on Monday morning as Precious Metals investors speculate over the future of the Federal Reserve’s quantitative easing program.  With the recent government shutdown in Washington and uninspiring economic figures fresh in the minds of Fed officials, many economists expect no deviation from the current level of stimulus following the Fed’s two-day policy meeting later this week. “The longer-term outlook for Gold has turned a bit more positive recently because the tapering is not a foregone conclusion considering how the U.S. data has developed over the last couple of months,” Saxo Bank senior manager Ole Hansen said.  Gold has rallied six percent over the last two weeks and is hovering near five week highs.

U.S. stock figures are fluctuating during morning trading following ongoing corporate earnings data and expectations for new industrial production figures.  “Optimism over corporate earnings and the fact that there’s no end in sight to the lax monetary policy of the Fed have combined to leave equity traders on the front foot as the new week gets underway,” one analyst said.  Investors will await the opening bell to see if manufacturing predictions and further earnings numbers can live up to the forecasts and drive key stock indexes higher to start the week.

At 9:40 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,351.00, Down $3.50.
  • Silver, $22.53, Down $0.16.
  • Platinum, $1,461.80, Up $5.30.
  • Palladium, $743.80, Down $5.20.

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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
4/16/2014 6:31:35 AM EST

Metal Bid Ask Change
Gold $1,303.30 $1,305.30 $3.00
Silver $19.56 $19.66 $0.13
Platinum $1,429.90 $1,439.90 ($4.70)
Palladium $794.30 $799.30 $2.40
4/16/2014 6:31:35 AM EST

Click here for Historical Charts*All Charts are in USD


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