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.

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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 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

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