Morning Gold & Silver Market Report – 1/20/2014


Lower equities and a weaker dollar are buoying Precious Metals to start the week.  Though gains are modest, Gold futures are trading at their highest level in almost six weeks.  "Gold is grinding its way higher,” Saxo Bank senior manager Ole Hansen said.  "I think the worst of the outflows is behind us," Danny Laidler, head of ETF Securities' Australia and New Zealand business, said. "A lot of our clients are still holding onto gold as a risk-event hedge."  Gold bugs will continue to eye metals prices as Chinese demand ahead of the Lunar New Year, coupled with other economic factors, could continue to boost the yellow metal. 

The U.S. stock market will be closed today in observance of Martin Luther King, Jr. Day.  However, investors will focus on Tuesday as earnings season continues and several Dow Industrial companies are slated to announce fourth quarter results.  Strong earnings reports will be needed to boost stocks as poor industrial output and weak employment data have weighed on equities to start 2014. 

At 9:31 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,257.80, Up $3.40.
  • Silver, $20.41, Up $0.06.
  • Platinum, $1,471.90, Up $15.80.
  • Palladium, $747.00, Up $0.50.

For more APMEX reviews of daily and weekly Precious Metals market activities, visit our News and Commentaries page.

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
4/17/2014 8:55:57 AM EST

Metal Bid Ask Change
Gold $1,300.60 $1,302.60 ($2.90)
Silver $19.57 $19.67 ($0.02)
Platinum $1,427.70 $1,437.70 ($0.10)
Palladium $795.90 $800.90 ($2.50)
4/17/2014 8:55:57 AM EST

Click here for Historical Charts*All Charts are in USD

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