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Mid-Day Gold & Silver Market Report – 11/15/2013

GOLD LOWER AS INVESTORS DIGEST NEWS

Precious Metal prices continued to slightly waiver through mid-day trading, but are still on track for a weekly gain. After last week’s U.S. nonfarm payroll report pressured Gold by sparking speculation that the Federal Reserve would begin its quantitative easing tapering in December, Fed Chair nominee Janet Yellen’s comments supporting continued easing gave the yellow metal a boost. When asked about the metal’s movement Friday, CMC Markets senior market analyst Colin Cieszynski said it “mainly appears to be the metal digesting the big moves of recent days.” 

Equity markets around the globe rose Friday after comments made by Janet Yellen sparked a rally in riskier assets. Jeff Knight, head of global asset allocations at Boston-based Columbia Management, said, “There's a sincere expectation that monetary policy will be calibrated according to economic conditions.” 

At 1:56 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,288.60, Up $0.30.
  • Silver, $20.79, Up $0.01.
  • Platinum, $1,442.00, Down $3.10.
  • Palladium, $733.60, Down $7.70.

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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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