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Mid-Day Gold & Silver Market Report – 4/25/2014

PRECIOUS METALS CONTINUE RISE ON WORLD NEWS

Precious Metals are trading higher through mid-day as investors continue to monitor the geopolitical situation in the Ukraine.  Gold’s increase has set the metal up for its first weekly gain in almost two weeks.  Richard Gotterer, managing director and senior financial advisor at Wescott Financial Advisory Group, said, “During the past couple of months, Gold seems to have found a comfortable base range to trade within.  With Russia and the Ukraine dominating the global conflict front, any potential for increased military action is going to put a floor in Gold’s trading range, with an upward bias.”

In a recent Thomson Reuters/University of Michigan survey, U.S. consumer sentiment for April beat expectations and rose to a nine-month high as investors’ short term views have been boosted.  While things look good in the short term, many are interested in what is down the road.  Survey director Richard Curtin said, “Resilience is dependent on positive long term economic expectations. While near term expectations have improved substantially, longer term expectations for personal finances as well as the overall economy have not improved as much.”

At 1:30 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,302.40, Up $9.80.
  • Silver, $19.73, Down $0.02.
  • Platinum, $1,423.40, Up $13.80.
  • Palladium, $811.00, Up $7.70.
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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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