Morning Gold & Silver Market Report – 1/7/2014


Precious Metals are trading slightly lower in early-morning trading as traders look forward to minutes from the Federal Reserve’s December policy meeting due Wednesday and jobs reports due later in the week. Some analysts are predicting short-term gains for Gold as hedge fund managers look to rebalance portfolios early in the year, though that particular support could be short-lived. Bank of America Merrill Lynch analyst Michael Widmer said, “The index rebalancing may keep having an impact in the next few sessions but by mid-January that impact should be gone.”

Deflation is a key concern for the eurozone. While some might welcome lower costs of goods and services, deflation typically marks a decrease in demand and leads to an increase in the unemployment rate. The latest inflation numbers from the eurozone showed consumer prices rising by 0.8 percent in December, down from 0.9 percent in November. The European Central Bank’s target for inflation is just below 2.0 percent. In Germany, the eurozone’s strongest economic power, jobless claims rose each month from August 2013 to November 2013.

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

  • Gold, $1,236.50, Down $4.00.
  • Silver, $19.99, Down $0.17.
  • Platinum, $1,416.50, Down $1.90.
  • Palladium, $737.20, Down $1.30.
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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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
4/23/2014 9:34:37 PM EST

Metal Bid Ask Change
Gold $1,285.80 $1,287.80 $1.20
Silver $19.40 $19.50 $0.01
Platinum $1,394.30 $1,404.30 $0.40
Palladium $783.40 $788.40 $1.40
4/23/2014 9:34:37 PM EST

Click here for Historical Charts*All Charts are in USD

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