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Closing Gold & Silver Market Report – 2/3/2014

PERTH MINT SALES REFLECT HIGHER DEMAND FOR GOLD & SILVER; U.S. STOCKS PERFORM POORLY

Gold and Silver ended on a positive note today and are still in high demand among investors, according to the Perth Mint’s monthly sales report.  The Perth Mint, which is located in Australia and is the world’s second largest Gold manufacturer, behind China, reported that Gold sales increased by 10 percent in January.  Also, Silver sales showed a jump of nearly eight percent for the month.  Investors are still very interested in investing in Precious Metals  even as the U.S. economy continues to show growth and stability. 

The S&P 500 fell 2.4 percent Monday as the U.S. stock market entered a historically difficult month.  This was the largest decline for U.S. stocks since June 2013 and is contributed to manufacturing data reflecting worse than expected numbers.  February is the second-worst month of the year for both the Dow and S&P 500, while it is the fourth poorest performing month for NASDAQ. 

At 6:12 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,259.20, Down $2.70.
  • Silver, $19.39, Down $0.07.
  • Platinum, $1,386.40, Down $2.20.
  • Palladium, $703.30, Down $0.50.

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.

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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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