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Market Reports

Morning Gold & Silver Market Report – 6/17/2014

GOLD & SILVER PRICES FALLING DESPITE US INFLATION GAINS

Gold and silver prices are falling as the world sees less risk in the Middle East. However, news this morning that is sending stock prices to the red, may provide support for gold and silver. The US housing starts and building permits fell more than expected in May bringing doubts to how swiftly housing might recover. New home starts were down 6.5 percent. Federal Reserve Chair Janet Yellen has expressed that a slow housing recovery could undermine the recovering economy. More news driving down stocks was the big jump up in consumer prices. Consumer prices had their largest increase in over a year.

Gold and silver prices are down as fear abates in the Middle East, yet last night President Obama notified House and Senate leaders that he is sending in up to 275 troops to provide support and security for US staff and Security in Baghdad. Although the deployment of ground troops has been rules out, the US has signaled its willingness to reengage in Iraq.

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

  • Gold, $1,265.00, Down $12.30.
  • Silver, $19.63, Down $0.15.
  • Platinum, $1,429.10, Up $12.00.
  • Palladium, $811.00, Up $1.60.

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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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