Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/7/2014

GOLD DIPS ON FED FORECASTS; COULD STOCK SELL-OFF INFLUENCE BULLION BUYING?

Gold and Silver prices have fallen slightly today as investors continue to ponder ongoing reduction in the scale of monetary stimulus.  “While the recent U.S. payroll data was just below forecasts, we believe the Federal Reserve will continue to scale back stimulus,” Lachlan Shaw, an analyst at Commonwealth Bank of Australia, said.  The Gold price initially fell to a six-week low after comments by Fed Chairwoman Janet Yellen, regarding increased interest rates and commitment to continue current tapering, weighed on the yellow metal after the latest Federal Open Market Committee meeting.  Gold continues to look for other catalysts for upward movement as hyper-inflationary fears seem to be quelled by asset-purchase reduction.

U.S. stocks are trading lower today as technology shares forced the S&P 500 to realize its largest three-session sell-off since 2011.  Today’s dip has caused the benchmark index to wipe out all gains for 2014.  “If you take a closer look under the hood, things have been deteriorating for a while now,” Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research, said. “Small caps and tech have been breaking down all over the place the past month, with the big blue chips holding tough. Well, now it looks like the last place bulls were hiding is finally starting to crack.”  Weakness in equities has traditionally pushed investors to safe-haven assets like Gold and Silver.

At  5 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,298.40, Down $6.60.
  • Silver, $19.92, Down $0.08.
  • Platinum, $1,428.50, Down $22.40.
  • Palladium, $766.00, Down $25.80.

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.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
CONMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM