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Mid-Day Gold & Silver Market Report – 1/20/2014

GOLD SEES STRONGER ETF FLOWS, BATTLING ECONOMY IN 2014

Gold and Silver prices are modestly higher after morning trading, helped by stronger exchange-traded fund (ETF) inflows. Commerzbank analysts said, “If this turns out to signal a trend reversal, it is likely to lend buoyancy to the Gold price. The high outflows from the Gold ETFs observed since the beginning of last year were one major reason for the weak Gold price.”

The main factor facing Gold’s recovery this year is the strength of the U.S. economy. Several economists are projecting U.S. gross domestic product to grow at a 3.0 percent rate in 2014, though many have stated that many more jobs would need to be created to achieve that goal. MarketWatch’s Jeffry Bartash wrote, “Such a scenario is unlikely in 2014. The (American Bankers Association) economic panel, for example, projects hiring will climb to an average of 200,000 a month this year, just a little better than the roughly 180,000 average in both 2013 and 2012.”

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

  • Gold, $1,257.10, Up $2.70.
  • Silver, $20.36, Up $0.01.
  • Platinum, $1,472.00, Up $15.90.
  • Palladium, $748.50, Even.

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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.

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