Morning Gold & Silver Market Report – 2/10/2014

YELLEN’S FED TESTIMONY IN FOCUS

The Gold price is still benefiting from the weak U.S. jobs report released Friday. This week, all eyes are on Janet Yellen’s first testimony to Congress as the head of the U.S. Federal Reserve. Yellen will speak to the House of Representatives Tuesday, and the Senate on Thursday. Standard Bank analyst Walter de Wet said, “From a macro data perspective Yellen's testimony is the main event because it's her first big official speech. The market perception is that she is a dove and that should be at least on the margin positive for gold ... but this may turn out to be a non-event for the fact that everybody expects it to be quite dovish.”

U.S. stock futures point toward a lower open for Wall Street as investors question last week’s rally. Monday is a quiet day for economic data and business data. Some were hoping for a further rise in equities after the Chinese central bank reported that it would keep monetary policy loose in that country, but it turned out to be a non-factor in the U.S.

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

  • Gold, $1,276.20, Up $11.30.
  • Silver, $20.26, Up $0.26.
  • Platinum, $1,391.90, Up $10.70.
  • Palladium, $720.40, Up $10.60.

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Disclaimer:

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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