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Mid-Day Gold & Silver Market Report – 4/11/2014

GOLD STEADY WHILE STOCKS CONTINUE TO SUFFER

Gold is holding on to 2 ½ week highs and is heading for its biggest weekly gain in a month. Gold has benefited from the risk aversion, as evidenced by the sliding stock market and the indication that the Federal Reserve will not raise interest rates as quickly as previously expected. "Gold is supported by the Fed minutes and lower U.S. Treasury yields, which have dropped over the past few days," Natixis analyst Bernard Dahdah said. Although there has not been a significant news story to come out of Ukraine recently, the situation will continue to weigh in on the markets.

In March, the U.S. producer prices were at their highest levels in nine months. The cost of food and trade services surged, which may indicate inflation is not too far off. Prices are up and consumer confidence is high. "It could be that the difficult weather over the past few months has distorted prices, and wholesale inflation will settle down in April," Gus Faucher, a senior economist at PNC Financial Services, said. "But there is also the possibility that inflation may be picking up, as firms raise prices given the recent limited acceleration in wage growth and stronger demand."

At 12:47 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,320.80, Down $1.70.
  • Silver, $20.05, Down $0.09.
  • Platinum, $1,463.30, Up $3.20.
  • Palladium, $807.20, Up $13.90.

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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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