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Mid-Day Gold & Silver Market Report – 2/14/2014

PRECIOUS METALS CONTINUE TO CLIMB THROUGH MID-DAY

Precious Metal prices are continuing to climb through mid-day trading.  An increase in physical demand and investors renewed skepticism in the U.S. economic recovery have provided a boost to metals as Gold is set for a four percent gain on the week.  Naeem Aslam, chief market analyst at AvaTrade said, “Gold prices are above the psychological level of $1,300, which is a bullish sign for gold. Physical gold is attractive at this price level for many.”

U.S. stocks rose slightly on Friday even as numbers show U.S. factory production had its biggest drop in more than four and a half years.  Andre Bakhos, managing director at Janlyn Capital LLC, said, “Industrial production was down. That was a big miss yet the market seems to be immune to it.”  He then added, “The fact the market has not been adversely affected by the weaker numbers, any of the recent numbers that have fallen short, the smart market money believes it is in fact the weather and the economy has not fallen off the tracks here.”

At 1:37 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,320.30, Up $18.20.
  • Silver, $21.44, Up $0.98.
  • Platinum, $1,430.80, Up $12.40.
  • Palladium, $737.00, Up $4.90.

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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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