Our Daily
Market Reports

Morning Gold & Silver Market Report – 1/30/2014

ECONOMIC DATA SENDS GOLD DOWN, STOCKS UP

The negative correlation between stocks and Gold is on display in early morning trading. Economic data regarding U.S. jobless claims and fourth quarter economic growth was the catalyst for stocks reversing course into positive territory and Gold adding to losses. Jobless claims increased to 348,000, much higher than the anticipated 330,000. Fourth quarter GDP missed the mark as well, showing a figure of 3.2 percent growth instead of the expected 3.3 percent. One reason for the expectations by economists was a statement from the Federal Reserve, saying, “Growth in economic activity picked up in recent quarters.”

Gold appears to have an uphill battle ahead. The Fed announced Wednesday that the highly-accommodative quantitative easing program will be tapered by a further $10 billion per month. “There is no surprise in the fact that tapering has continued. And barring any major change in the U.S. macroeconomic situation, we are still of the view that by the end of the year we are likely to see tapering completely wound up or getting close to that, which is going to weigh on Gold in the next few months,” Mitsubishi analyst Jonathan Butler said.

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

  • Gold, $1,242.90, Down $21.30.
  • Silver, $19.15, Down $0.46.
  • Platinum, $1,390.80, Down $19.30.
  • Palladium, $713.70, Up $1.60.

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