Mid-Day Gold & Silver Market Report – 1/10/2014


Precious Metals continue to show their strength through midday trading.  Friday’s release of disappointing jobs data has helped metals rally as Gold sets up for its highest close in four weeks.  Gold’s safe haven appeal has been provided a boost and many feel the Federal Reserve’s announcement of their decision to begin tapering the quantitative easing program may have come too soon.  Douglas Borthwick, managing director of Chapdelaine Foreign Exchange said, “The U.S. Fed has also acted too soon. While it is true that the U.S. economy has stabilized, it is also true that the reason it has stabilized is because the U.S. Fed has provided a great amount of liquidity to the market…The U.S. Fed has been the crutch helping the U.S. economy recover. As the crutch is taken away, the U.S. economy is likely to suffer.”

U.S. stocks declined on Friday as a result of December’s weak payroll report and now have many investors beginning to question what is next.  Dan Greenhaus, chief global strategist at BTIG via email said, “The economy, based on any number of other indicators, has been picking up steam of late which makes today's number….curious. We aren't sure how the Fed should react to this number but we think another reduction at the January FOMC (Federal Open Market Committee) meeting is probably unlikely.”

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

  • Gold, $1,248.40, Up $16.50.
  • Silver, $20.24, Up $0.51.
  • Platinum, $1,438.80, Up $16.90.
  • Palladium, $744.30, Up $7.80.

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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
4/25/2014 12:38:01 AM EST

Metal Bid Ask Change
Gold $1,291.90 $1,293.90 $1.30
Silver $19.50 $19.60 ($0.15)
Platinum $1,402.50 $1,412.50 $2.90
Palladium $797.00 $802.00 ($1.30)
4/25/2014 12:38:01 AM EST

Click here for Historical Charts*All Charts are in USD

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