Mid-Day Gold & Silver Market Report – 11/8/2013


Precious Metals prices continued their downward trend through mid-day trading.  A stronger-than-expected jobs report fueled speculation that the U.S. Federal Reserve would begin to taper its quantitative easing program before year’s end.  GFT Markets technical analyst Fawad Razaqzada said, “The numbers absolutely blew past expectations. After yesterday’s surprisingly strong U.S. GDP figure, this has strengthened the argument for the Fed to reduce stimulus before the end of this year. And because of that reason, Gold prices have plunged today.”

U.S. consumer sentiment dipped to a near two-year low in November.  Lingering negative views of the government and consumer fears of job prospects and financial outlooks were key factors. Richard Curtin, survey director for the Thomson Reuters/University of Michigan consumer sentiment report, said, “Following the end of the shutdown, consumers were somewhat more optimistic about the outlook for the economy, but thus far the rebound has been lackluster.”

At 3:07 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,287.90, Down $22.60.
  • Silver, $21.50, Down $0.21.
  • Platinum, $1,445.60, Down $12.20.
  • Palladium, $759.90, Down $0.30.

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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 9:07:58 AM EST

Metal Bid Ask Change
Gold $1,275.20 $1,277.20 ($9.40)
Silver $19.21 $19.31 ($0.18)
Platinum $1,385.10 $1,395.10 ($8.80)
Palladium $782.50 $787.50 $0.50
4/24/2014 9:07:58 AM EST

Click here for Historical Charts*All Charts are in USD

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