Our Daily
Market Reports

Closing Gold & Silver Market Report – 7/23/2014

METAL PRICES FLAT AS UKRAINE AND ISRAEL DOMINATE HEADLINES

Precious Metal prices are holding steady and trading flat through afternoon trading.  Although this will be the second straight day Gold futures have declined, continued turmoil in the Middle East and Ukraine have provided support to metals.  Blake Robben, a senior market strategist at Archer Financial Services in Chicago said, “There is definitely some temporary support because of geopolitical tensions, but the strength in the equity market continues to be a big headwind.”

Equity markets around the world edged slightly higher on Wednesday after data released showed solid corporate earnings which increased the demand for more “risky” assets.  However, strong demand for safe-haven assets has continued as investors continue to monitor geopolitical situations around the world.  Rick Meckler, president of hedge fund LibertyView Capital Management in Jersey City, New Jersey said, “The bottom line is investors have moved away, for now, from the big political stories and are refocused on earnings, which in general have been good.”

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

  • Gold, $1,306.00 Down $1.30
  • Silver,$20.97 Down $0.04
  • Platinum, $1,486.90 Down $2.40
  • Palladium, $873.40 Down $2.50

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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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