Morning Gold & Silver Market Recap - 2/4/2014
Precious Metals prices are trading lower today as the U.S. dollar has gained strength and equities are possibly set for a small rebound. Although Gold prices tumbled in 2013, one analyst sees a potential boom as investors prepare for Friday’s jobs report. INTL FCStone analyst Edward Meir said, “We continue to suspect that the global equity markets will likely see more turbulence in February. Which likely will mean that Gold should be fairly resilient for a little while longer.”
Global markets opened Tuesday on a down turn and slumped near a four-month low. With emerging markets currently in a sell-off state and weaker than expected U.S. factory numbers, global equities are falling. Societe Generale strategist Kit Juckes said, “It does look as if developed-market equities are playing catch-up with emerging markets. The dollar has somewhat run out of steam, and I suspect the focus today may well be on [Japanese] yen strength as well as how much further the equity market falls can go.”
At 10:00 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,252.30, Down $9.60.
- Silver, $19.38, Down $0.08.
- Platinum, $1,370.30, Down $18.30.
- Palladium, $702.40, Down $1.40.
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.