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Mid-Day Gold & Silver Market Report – 2/18/2014

GOLD, STOCKS FLAT BEFORE FED MINUTES

The Gold price gained slightly in morning trading, but remained mostly flat after a three-day rally when it reached a 3-1/2 month high. Minutes from the Federal Reserve’s last meeting are due Wednesday. Macquarie analyst Matthew Turner said, “I suppose the interest around the FOMC minutes would be what they have to say about the slowdown in the U.S. economy, which could be providing some Gold direction in the short term.”

U.S. stocks are also feeling pressure as major indices are mostly flat. Colin Cieszynski, analyst at CMC Markets, explained that investors are taking disappointing data with a grain of salt, saying, “It is not surprising for markets to have a slow day such as today, especially after big rally at the end of the year followed by a pullback in January. Investors seem to treat weak economic manufacturing and housing reports with understanding that weather played a big role in the slowdown.”

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

  • Gold, $1,324.90, Up $4.30.
  • Silver, $21.94, Up $0.46.
  • Platinum, $1,428.80, Down $3.30.
  • Palladium, $738.80, Up $0.20.

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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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