Mid- Day Gold & Silver Market Report – 1/31/2014
PRECIOUS METALS FLAT AS GLOBAL EQUITIES STRUGGLE
Precious Metals are trading flat through mid-day with Gold still set for a monthly gain. Around the globe, equities are down leaving market analysts to question what is in store for Gold. “There is a serious money flow from the equity market towards gold, and we think that this could continue for the next couple of weeks,” AvaTrade chief market analyst Naeem Aslam said. This is potentially big news for Gold which has historically been a safe haven for investors looking to get away from riskier investments in equities markets.
In a recent survey, U.S. consumer sentiment dipped in January as expectations for future gains outweighed any recent economic improvement. “Prospects for either consumers' own personal finances or for the economy as a whole have remained more resistant to improvement, especially longer term prospects. This has prevented recent economic gains from building the type of positive upward momentum that has sparked and sustained increases in consumer optimism and confidence,” survey director Richard Curtin said.
At 1:55 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,241.90, Down $2.60.
- Silver, $19.18, Up $0.00.
- Platinum, $1,380.10, Down $4.20.
- Palladium, $705.30, Down $2.60.
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.