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Market Reports

Morning Gold & Silver Market Report – 11/27/2013

GOLD UP ON MIXED DATA

Gold held on to gains this morning after economic data was released. Though weekly jobless claims unexpectedly declined, durable-goods orders dropped by 2 percent in October. Most analysts didn’t expect much movement the day before the Thanksgiving holiday. Societe Generale analyst Robin Bhar said, “I wouldn't expect much happening with Thanksgiving tomorrow … but, if the data today comes in positive, there is always the question of whether the [Federal Reserve] could move to announce [quantitative easing] tapering in December or January.”

The final minutes of trading Tuesday saw stocks lose out on some gains. Most economists aren’t putting much stock into the late movement, as Stephen Guilfoyle, chief economist at Sarge986.com said, “Perhaps there was some conviction in the late-day selloff, or perhaps some traders closed out their positions today (Tuesday) and we’ll see them again on Monday.”

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

  • Gold, $1,252.90, Up $9.00.
  • Silver, $19.99, Up $0.09.
  • Platinum, $1,377.70, Up $4.80.
  • Palladium, $723.80, Up $6.00.

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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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