Morning Gold & Silver Market Report – 1/16/2014
JOBLESS CLAIMS DOWN; GOLD FLAT
Gold and Silver are relatively flat in morning trading. The weekly jobless claims report showed a drop in new claims of 2,000 to a level not seen since before the Thanksgiving holiday. However, continuing claims rose by 174,000 for the week ending January 4. While new jobless claims are seen as a gauge of layoffs, continuing claims can show the number of people struggling to re-enter the workforce on a weekly basis.
U.S. stock futures remained lower after the jobless claims report was released. Exiting Federal Reserve Chairman Ben Bernanke is slated to speak at an event in Washington, D.C. today, and many investors will be looking for more clues as to the future plans of tapering the Fed’s quantitative easing program. This speech comes just a day after the U.S. House of Representatives approved a spending bill which removes the threat of a government shutdown.
At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,245.00, Up $4.20.
- Silver, $20.22, Up $0.04.
- Platinum, $1,428.00, Down $2.60.
- Palladium, $740.00, Down $4.00.
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