Our Daily
Market Reports

Morning Gold & Silver Market Report – 5/7/2014

UKRAINE SUPPORTING GOLD PRICE; STRIKE SUPPORTING PLATINUM

Precious Metals fell in early morning trading ahead of congressional testimony from Federal Reserve Chairwoman Janet Yellen, though the situation in Ukraine is still lending support to the Gold market in particular. Societe Generale said in a note, “Janet Yellen's testimony … in Washington is the big event on the calendar today, and the market is positioning itself for (more) dovish comments. That means that we would get a bigger reaction … to relatively hawkish comments.” Platinum and Palladium have been supported by a miners’ strike, and HSBC said in a note, “The market may be close to another leg higher if the strike is not resolved soon.”

U.S. stock futures are slightly higher this morning, though the U.S. dollar is flat. Regarding the dollar, Marshall Gittler of IronFX said, “We may see further new 2014 lows against other currencies too if Yellen sows doubts about whether the Fed will end its [quantitative easing] program on schedule later this year or tries to push back the market’s expectations of when tightening will begin.”

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,306.00, Down $4.60.
  • Silver, $19.60, Down $0.09.
  • Platinum, $1,444.80, Down $13.30.
  • Palladium, $810.40, Down $9.00.

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
COMEX &
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.

PLATINUM