Morning Gold & Silver Market Report – 1/24/2014


Gold and Silver prices gained in early morning trading. Economists questioned whether yesterday’s Gold price gain was sustainable due to strong outflows from exchange-traded funds, but the price turned positive overnight. Commerzbank analyst Daniel Briesemann said, “Yesterday Gold's move was down to the very weak U.S. dollar, falling U.S. bond yields and declining equities, while in addition, we had some calls from India to ease import restrictions.”

Stocks are still reeling from disappointing earnings results and yesterday’s report that China’s manufacturing sector signaled a contraction. Naeem Aslam, chief market analyst at AvaTrade, wrote that these are not the only things “rattling traders’ nerves. The Federal Reserve meeting, during which the handcuffs around quantitative easing could be tightened further, is also a concern. We are in a scenario where good news is bad news. The economic data released yesterday in the U.S. also confirmed that the strong growth story is intact, and this has raised the odds for possible action by the Fed during their next meeting.”

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

  • Gold, $1,269.90, Up $5.10.
  • Silver, $20.23, Up $0.17.
  • Platinum, $1,446.00, Down $19.20.
  • Palladium, $743.50, Down $2.40.

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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 11:52:30 AM EST

Metal Bid Ask Change
Gold $1,300.00 $1,302.00 ($3.50)
Silver $19.58 $19.68 ($0.01)
Platinum $1,430.80 $1,440.80 $3.00
Palladium $801.00 $806.00 $2.70
4/17/2014 11:52:30 AM EST

Click here for Historical Charts*All Charts are in USD

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