Closing Gold & Silver Market Report – 11/21/2013

GOLD STILL DOWN AFTER FED MINUTES, ECONOMIC DATA BOOST STOCKS

The Gold price has fallen more than 2 percent over the last two sessions. The yellow metal fell sharply Wednesday as a review of October’s Federal Open Market Committee minutes made it appear that the Federal Reserve could begin tapering its quantitative easing program sooner than expected.  Regarding the Fed minutes, one expert noted, “Several members of the committee said at their October meeting they could see the Fed tapering its $85 billion-a-month bond-buying program at ‘one of its next few meetings.’

Improved employment numbers were integral in halting a three-day losing streak for U.S. stocks as both the Dow Jones Industrial Average and S&P 500 realized gains on the uplifting economic data.  “After three consecutive negative days, it’s reasonable to expect a breather at least in the beginning of the day,” Federated Investors Inc. fund manager Lawrence Creatura said. “There is some good news in the labor report too in that it does indicate a degree of improvement.”  With jobs numbers improving and consumer sentiment appearing to be on the rise, investors and analysts will see if the bull market can continue.

At 5:09 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,244.00, Down $31.10.
  • Silver, $20.01, Down $0.11.
  • Platinum, $1,393.30, Down $7.30.
  • Palladium, $714.70, Down $0.70.

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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
4/23/2014 9:51:13 PM EST

Metal Bid Ask Change
Gold $1,285.50 $1,287.50 $0.90
Silver $19.39 $19.49 $0.00
Platinum $1,395.20 $1,405.20 $1.30
Palladium $783.40 $788.40 $1.40
4/23/2014 9:51:13 PM EST

Click here for Historical Charts*All Charts are in USD


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