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Mid-Day Gold & Silver Market Report – 11/4/2013

QUANTITATIVE EASING DOMINATES HEADLINES

Quantitative easing (QE) continues to be a major point of emphasis with investors.  Though some analysts are still preparing for the outside chance of the U.S. Federal Reserve begins tapering its QE program in December, St. Louis Fed President James Bullard said Monday that the Fed has the luxury of patience due to low inflation.  Bullard also noted that economic data will play a major part in the decision, so investors will continue to focus on data releases.

The euro hit a six-week low against the dollar amid pressure for the European Central Bank to cut interest rates and possibly start a QE program of its own.  Barclays Capital analysts said, “Although market expectations for ECB action have grown due to the weak inflation print, we think a December move is much more likely.  However, we expect dovish rhetoric at the press conference from ECB President Mario Draghi to keep a December move in play.”

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

  • Gold, $1,319.60, Up $4.40.
  • Silver, $21.83, Down $0.06.
  • Platinum, $1,455.10, Up $2.20.
  • Palladium, $750.50, Up $11.30.

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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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