Mid-Day Gold & Silver Market Report – 12/9/2013


Gold and Silver prices rose slightly in morning trading. “The fact that gold failed to fully penetrate its prior lows from last week is a welcome sign for bullish investors. This has helped to prevent it from closing below that long-term bullish trend line around $1,225,” Fawad Razaqzada, technical analyst at Forex.com, said. Commerzbank analysts believe that the Gold price is in for a bright 2014, although it may be a rough start for the yellow metal. They believe “The debate about the scaling back of the [Federal Reserve’s] bond purchases will remain a negative factor for the gold price at the beginning of 2014.”

Federal officials from Richmond, St. Louis, and Dallas will speak today, making the last public comments from Fed officials until the policy meeting next week. With recent rumors about a potential budget deal being struck in Washington before the Christmas recess, some are expecting the Fed to follow with an announcement of quantitative easing tapering.

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

  • Gold, $1,235.80, Up $4.30.
  • Silver, $19.74, Up $0.17.
  • Platinum, $1,370.00, Up $11.70.
  • Palladium, $735.80, Down $0.40.

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.

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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
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

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