Morning Gold & Silver Market Report – 12/31/2013

DIFFERING OPINIONS ON GOLD’S 2014

The Gold price is set to end the year lower for the first time in over a decade after the biggest drop since 1981. Economists have many differing opinions on Gold’s immediate future. Some believe the price will fall further, while others, like Jeff Sica of Sica Wealth Management, believe otherwise. Sica said, “While there are no immediate worries about inflation, it can’t be ruled out in the future with economic growth accelerating in some parts of the world. Gold will find support at lower prices with interest rates hovering near zero.”

MarketWatch’s Andy Xie wrote on some of the unintended consequences that the Federal Reserve’s unwinding of monetary easing could have on the U.S. economy. He wrote, “The risk at home for the Fed is much higher than during the previous tightening cycles. The U.S. economy is still quite fragile. The improving labor market is due to declining wages for the re-employed. Hence, its contribution to demand is limited. The stock market could be 50% overvalued. The Internet sector is a vast bubble similar to what happened in early 2000. If the bubble pops, it may lead to reduction in corporate capex, which could pull the economy back into recession.”

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

  • Gold, $1,189.30, Down $16.80.
  • Silver, $19.00, Down $0.67.
  • Platinum, $1,359.80, Down $9.90.
  • Palladium, $710.50, Down $0.30.

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 ‘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
4/24/2014 2:45:39 PM EST

Metal Bid Ask Change
Gold $1,291.40 $1,293.40 $6.80
Silver $19.64 $19.74 $0.24
Platinum $1,403.50 $1,413.50 $9.60
Palladium $797.10 $802.10 $15.10
4/24/2014 2:45:39 PM EST

Click here for Historical Charts*All Charts are in USD


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