Morning Gold & Silver Market Report – 2/14/2014


Gold reclaimed the $1,300 per ounce level yesterday and so far isn’t looking back in early morning trading. Mitsubishi analyst Jonathan Butler said, “Gold has gone through a couple of important levels at $1,270 and $1,300 and if it manages to close around $1,310 we might look for some further gains to be made, although it could drop back. Gold has gone through a couple of important levels at $1,270 and $1,300 and if it manages to close around $1,310 we might look for some further gains to be made, although it could drop back, as it is looking a bit toppy on the [Relative Strength Index].” Economic reports to be released this morning are expected to show a slowdown in the U.S. economy, which is driving the U.S. dollar down.

U.S. stock futures are also looking stronger in morning trading. David Lutz of Stifel Nicolaus said, “It felt like there was a lot going on in futures. We had some people unwinding large hedges. I think you had a lot of European money coming back into the market. We saw the same phenomena around the debt ceiling in October — a lot of European managers had to pull money out of the United States. I think you had the reverse of that. I think the Fed is easing some nerves out there, and it was sparked by some of the debt ceiling angst being removed.”

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

  • Gold, $1,317.60, Up $15.50.
  • Silver, $21.16, Up $0.71.
  • Platinum, $1,431.00, Up $12.40.
  • Palladium, $739.50, Up $7.40.

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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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