Our Daily
Market Reports

Closing Gold & Silver Market Report – 1/23/2014

FALLING DOLLAR, PHYSICAL DEMAND BOOST GOLD

The falling U.S. dollar continued to boost Gold’s price throughout the day, as the yellow metal rose nearly two percent. Phil Streible, a broker at R.J. O’Brien & Associates, said plainly, “The dollar is helping Gold today. Physical demand has remained steady from the East,” referring to Asian countries. The Silver price rose with Gold today, while Platinum and Palladium prices dropped, even amid a strike at the world’s biggest Platinum mines.

The Dow Jones Industrial Average closed approximately 174 points lower today as Chinese manufacturing data worried equities investors. The report showed a contraction in the manufacturing sector, falling below expectations. Some, such as PNC Financial Services Group international economist Bill Adams, believe the Chinese holiday season played a part in the report, saying, “We are reluctant to read too deeply into this number. Chinese statistics, even ones as ably adjusted for seasonal variation … tend to get a little fuzzier around the Lunar New Year holiday, which falls on Jan. 31 this year.”

At 3:41 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,265.90, Up $24.80.
  • Silver, $20.05, Up $0.17.
  • Platinum, $1,459.00, Down $5.40.
  • Palladium, $745.10, Down $3.80.

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.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM