Mid-Day Gold & Silver Market Report – 12/23/2013

GOLD KEEPS $1,200 IN MORNING TRADING

The Gold price remained relatively flat in morning trading, with the yellow metal still atop $1,200 per ounce. Looking towards the future, “We think that the Fed may become slightly more hawkish next year, when it comes to winding down their ultra-loose monetary policy. This could add further pressure for gold,” Naeem Aslam, chief market analyst at Ava trade, said. Moudi Raad of MKS added that Gold is facing a couple of hurdles in 2014, if looking at the investment in a purely fundamental manner. “The lack of yield that gold provides, as well as its poor price action this year, doesn’t bode well for the coming weeks/months ahead as share prices continue their push higher, whilst inflation is well and truly in check at the moment,” Raad said.

U.S. stocks continue to climb as the Dow Jones Industrial Average and the S&P 500 continue their trend of setting new record highs. Bill Stone, chief investment strategist at PNC Asset Management Group, said, “The combination of the Federal Reserve's 'taper-lite,' a two-year budget deal, and better-than-expected U.S. economic data could support the seasonal pattern of abnormally strong market returns during the holidays.”

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

  • Gold, $1,200.10, Down $6.10.
  • Silver, $19.51, Down $0.01.
  • Platinum, $1,331.20, Down $4.00.
  • Palladium, $695.50, Down $3.20.

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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
4/17/2014 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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