Morning Gold & Silver Market Report – 11/5/2013

CURRENCY TRADE KEEPS GOLD, SILVER FLAT

Gold and Silver prices remain mostly flat in morning trading. The euro’s relationship to the U.S. dollar continues to be the main factor on the Gold price. Natixis analyst Bernard Dahdah explained, “We've seen recently that the dollar has been strengthening because the euro is weakening. The euro's appreciated by some 2 percent, and at the same time the Gold price has dropped by almost 3 percent. Looking forward, it will be interesting to see what the [European Central Bank] has to say, and whether they will continue with quantitative easing. We just have to wait and see.”

U.S. stock futures turned negative on reports of poor economic growth in the eurozone. Alpari U.K.’s research analyst Joshua Mahony said, “In terms of the eurozone picture, what you’re looking at really is the fact that people have bought into this recent rally a bit too much. It was a bit overbought in the first place.” The main focus of investors now shifts to U.S. Federal Reserve officials set to speak Tuesday afternoon. Investors will have the chance to analyze the statements made for clues as to the timing of quantitative easing tapering, which has been a main factor in the Gold price of late.

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

  • Gold, $1,316.80, Up $0.10.
  • Silver, $21.76, Up $0.02.
  • Platinum, $1,453.50, Down $3.70.
  • Palladium, $747.50, Down $3.00.

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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 9:38:07 AM EST

Metal Bid Ask Change
Gold $1,301.50 $1,303.50 $1.20
Silver $19.57 $19.67 $0.13
Platinum $1,432.20 $1,442.20 ($2.40)
Palladium $797.60 $802.60 $5.80
4/16/2014 9:38:07 AM EST

Click here for Historical Charts*All Charts are in USD


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