Morning Gold & Silver Market Report – 12/12/2013

PROFIT-TAKING, TAPERING FEARS HIT GOLD

Gold and Silver prices fell in early morning trading amid profit-taking and fears over the Federal Reserve tapering its quantitative easing program. Also weighing on the minds of investors is the expected passage of a budget deal in Washington. Because of these factors, Standard Bank’s Walter de Wet is informing clients “that Gold should be sold into rallies.” A decision on when to begin tapering is expected out of next week’s Federal Open Market Committee meeting.

The weekly jobless claims report and retail sales data were enough to push stock markets out of the red this morning, though Precious Metals barely budged. U.S. retail sales rose 0.7 percent in November, thanks to a strong improvement in auto sales. New jobless claims, however, rose much more than expected and now sit at the highest level in two months. The four-week average also rose by 6,000 and continuing claims rose by 40,000.

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

  • Gold, $1,237.20, Down $22.50.
  • Silver, $19.75, Down $0.66.
  • Platinum, $1,372.20, Down $15.00.
  • Palladium, $729.40, Down $9.20.
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.

« Return to Commentaries

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
4/16/2014 9:18:17 PM EST

Metal Bid Ask Change
Gold $1,301.80 $1,303.80 ($1.70)
Silver $19.55 $19.65 ($0.03)
Platinum $1,426.60 $1,436.60 ($1.20)
Palladium $797.60 $802.60 ($0.70)
4/16/2014 9:18:17 PM EST

Click here for Historical Charts*All Charts are in USD


Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More



APMEX Reviews

Just a short note, I've been dealing with you for several years your products are excellent customer service top shelf, packaging delivery top notch, and a easy fun website to look at.

Kevin | January, 2014 View All

As seen on...