Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 1/2/2014

PHYSICAL BUYERS IN ASIA BUY DIPS, BOOSTS GOLD

Increased demand for physical Gold has given the metal its largest single session boost in three weeks today.  Expectations that Asian buyers of Gold bars and jewelry will continue displaying strong physical demand have been the motivator of today’s higher prices.  “We do see physical demand from Asia continuing to emerge, and India partly easing restriction will also increase demand,” Steve Scacalossi, vice president at TD Securities Inc., said. “The market is looking to buy dips now.”  Gold bugs hope the first trading day since the inception of the new year will be a sign of things to come as the long shadow cast by Gold’s first annual drop since 2000 remains ever present.

Following its greatest year of gains since 1997, the S&P 500 has begun 2014 trading lower as investors expect upcoming market corrections.  “More people seem to be wary, as we are, of potential corrections as markets get overexcited,” Oliver Wallin, investment director at Octopus Investments Ltd., said. “The question is just when to time it. A lot of people are willing to continue in this rally but are nervous at the same time. We’ve got one eye on the exit but we know there is money to be made in the short term.”  Equities investors will continue to view global economic growth and monetary easing measures as the central factors influencing this year’s performance among key market indicators.

At 1:01 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,226.30, Up $21.50.
  • Silver, $20.14, Up $0.72.
  • Platinum, $1,405.10, Up $29.30.
  • Palladium, $730.90, Up $12.60.

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

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM