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Mid-Day Gold & Silver Market Report – 4/9/2014

GOLD & SILVER PRICES PULL BACK FROM RECENT HIGHS

Gold & Silver prices are down as investors capture gains from recent highs. “Weak equity markets and the geopolitical tensions in Ukraine have given the gold price a boost, allowing it to trade back above $1,300 per troy ounce,” Commerzbank’s Eugen Weinberg, said. “Nonetheless, the latest price increase appears to have been driven to a large extent by speculative investors, whilst physical demand from China has been weak of late.”

U.S. stocks are up this morning, as Alcoa’s quarterly report beat expectations. "So far, 24 companies have reported, counting Alcoa, on the first-quarter earnings clock, and the guidance is not as severe [as the prior quarter,]” Nick Raich, chief executive officer at the Earnings Scout, said. Investors are looking forward to the release of the Fed March meeting minutes. “My guess is there is nothing in the minutes that we haven't heard plenty about over the course of the past couple of weeks," Hogan said.

At 1:00 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,307.80, Down $3.30.
  • Silver, $19.80, Down $0.31.
  • Platinum, $1,440.80, Down $0.90.
  • Palladium, $782.80, Up $6.00.

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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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