Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/28/2014

CORPORATE EARNINGS, HOME SALES DATA SUPPRESS GOLD

Gold futures are down slightly this afternoon as home sales data has reportedly made its largest gain in three years.  Today’s dip brings the yellow metal’s largest rally in six weeks to an end as the housing figures coupled with the lack of alarming news from Ukraine/Russia to mildly suppress Gold’s upward momentum. Strong economic news like today’s homes sales data will most likely influence another round of stimulus tapering from the Federal Reserve. The Fed’s monthly summit convenes tomorrow and will come to an end Wednesday.  Analysts expect the Fed to reduce the current scale of monthly asset purchases by another $10 billion at the conclusion of this meeting which could cause another temporary pullback in Precious Metals prices. 

U.S. stocks were lifted by today’s strong corporate earnings and housing data, reversing early morning lows. “It’s remarkable how volatile the market can be on an intraday basis,” John Carey, fund manager at Pioneer Investment Management Inc., said. “Most of the companies that have reported so far have exceeded expectations and there’s M&A that’s bubbling along and that could be causing some optimism, with big deals and restructuring.”  Investors await the outcome of Wednesday’s Fed meeting to see the reaction of equities and Precious Metals markets alike. 

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

  • Gold, $1,297.90, Down $4.90.
  • Silver, $19.64, Down $0.12.
  • Platinum, $1,418.70, Down $5.60.
  • Palladium, $803.00, Down $9.30.

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.

AURIC