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Market Reports

Morning Gold & Silver Market Report – 3/31/2014

GOLD FLAT, SILVER HIGHER AHEAD OF JOBS REPORT

The Gold price is relatively flat while the Silver price is trading higher in early morning trading. Gold fell around three percent last week and is headed for its first monthly decline in 2014. Standard Bank’s Walter de Wet said, “The positive news is that if the Gold price falls far enough, Asia demand will improve and should, as it did last year, provide some support on the downside.” The Silver price snapped a nine-day losing streak Friday.

U.S. Federal Reserve Chair Janet Yellen will be speaking in Chicago this morning. Daiwa Capital Markets’ Chris Scicluna wrote, “While the Fed's updated forward policy guidance is no longer centered on the unemployment rate, the monthly employment report on Friday will inevitably be closely watched for any improvement at the end of the first quarter.” Much attention will be paid to Friday’s nonfarm payrolls report, as it will deliver end-of-quarter statistics on the economy.

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

  • Gold, $1,293.50, Down $2.30.
  • Silver, $19.87, Up $0.04.
  • Platinum, $1,419.00, Up $12.30.
  • Palladium, $778.00, Up $4.30.
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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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