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Market Reports

Mid-Day Gold & Silver Market Report – 4/29/2014

PRECIOUS METALS PRICES RECOVER FROM EARLY LOSSES

Precious Metals prices began the day well into the red, but have since rebounded despite a strong rally in the stock market. The stock market is rising on earnings reports and the expectation that the Federal Reserve meetings this week will continue to indicate low interest rates for the immediate future. Gold also finds support in the low interest rate environment. However, the Ukrainian crisis continues to provide the strongest support for Gold prices.

Silver is in the news. The CPM Group, one of the world’s leading research and consulting companies for commodities and Precious Metals, will be releasing their 2014 Silver Yearbook today. The report highlights the increasing industrial demand for Silver. Net global Silver sales for industrial usage increased in 2013 while Silver sales as an investment declined. Industrial demand rose for Silver jewelry, silverware and solar panels. Also important to note, the overall Silver supply fell in 2013. Overall, the CPM Group is expecting Silver prices to consolidate in 2014 and potentially go higher the second half of the year. There are still enough economic, political and financial tensions in the world to warrant protection through the purchase of Silver.

At 1:05 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,296.60, Down $1.40.
  • Silver, $19.58, Down $0.08.
  • Platinum, $1,431.30, Up $11.60.
  • Palladium, $809.20, Up $7.50.

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.

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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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