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Mid-Day Gold & Silver Market Report – 12/30/2013

INVESTORS FLOCKING TO POPULAR STOCK MARKET

Gold and Silver prices remained lower in morning trading. Quantitative Commodity Research owner Peter Fertig said, “What's currently driving investors is the idea that commodities are out of fashion and equities are in demand. And, with low inflation pressures, there is still some downside risk for Gold as long as the stock market remains relatively robust.” With this mindset, many investors seem to be simply following what’s most popular. At this time, with the Dow Jones Industrial Average and the S&P 500 hitting new record highs almost daily, that appears to be the stock market.

Today, however, stocks are mostly flat amid thin trading. Bob Landry, executive director and portfolio manager at USAA Investments, believes 2014 won’t be quite as good of a year for stocks as 2013, but that’s simply because 2013 was so positive it will be hard to match. He believes that stocks will steadily improve throughout the year, barring any “political mistakes” made by lawmakers, or unpredictable, “black swan” type events.

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

  • Gold, $1,206.80, Down $9.70.
  • Silver, $19.71, Down $0.40.
  • Platinum, $1,368.00, Down $13.40.
  • Palladium, $710.60, Down $1.40.

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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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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