Morning Gold & Silver Market Report – 2/24/2014

PRECIOUS  METALS UP AS INVESTORS AWAIT DATA

Precious Metals prices are higher through early morning trading, with Gold staying near a three and a half month high.  A combination of violence in Ukraine, a steep drop in U.S. existing home sales and a recent trend of spotty economic data have boosted Gold’s safe-haven appeal.  Many investors will look for direction on the release of several reports this week that will give a revised look at U.S. economic-growth data, consumer confidence and durable goods.

Although the Federal Reserve has recently begun to taper its bond buying program, some feel they have already set the U.S. stock market up for a big fall.  When asked his opinion on quantitative easing and the Fed’s low interest rates, Grant's Interest Rate Observer founder and editor Jim Grant told CNBC’s Squawk Box, “My fear is because that interest rates are suppressed, therefore earnings are inflated.  So when rates go up … the 'hall of mirrors' is shattered and we look at each other and see what actually is real rather than what the Fed wants us to believe.”

At 10:22 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,338.60, Up $13.00.
  • Silver, $22.13, Up $0.29.
  • Platinum, $1,439.60, Up $9.70.
  • Palladium, $742.00, Up $1.00.
APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

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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 12:23:08 AM EST

Metal Bid Ask Change
Gold $1,301.10 $1,303.10 ($2.40)
Silver $19.50 $19.60 ($0.08)
Platinum $1,426.80 $1,436.80 ($1.00)
Palladium $796.80 $801.80 ($1.50)
4/17/2014 12:23:08 AM EST

Click here for Historical Charts*All Charts are in USD


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