Closing Gold & Silver Market Report – 11/19/2013
MARKETS CHANGED LITTLE AS INVESTORS AWAIT FED MINUTES
Gold is experiencing mild gains today as the dollar was pushed down on expectations that the Federal Reserve will continue its ultra-loose monetary policy. “The dollar is helping gold,” OANDA Corp. currency analyst Dean Popplewell said. “The timing of the tapering will continue to be the guiding force.” With overall economic growth and employment figures, in particular, still below desired levels, incoming Fed chairman Janet Yellen has given indication that quantitative easing will continue at its current pace until sustained economic improvement is realized.
U.S. stocks are down slightly today as many investors remained sidelined as they await word from the Federal Reserve in regards to the future of a monetary stimulus. “The economy is not doing badly, and the Fed is remaining very aggressive and very friendly toward the market,” Bruce Bittles, chief investment strategist at RW Baird & Co., said. “We’ve had a big run. My suspicion is that the market might go sideways now for a little while before we encounter a year-end rally in December.” The Fed minutes from October’s Federal Open Market Committee meeting will be released tomorrow and investors will scrutinize the contents for any additional signs of a potential stimulus taper.
At 4 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,277.30, Up $2.50.
- Silver, $20.42, Even.
- Platinum, $1,420.40, Up $8.40.
- Palladium, $722.00, Up $3.70.
APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.