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Morning Gold & Silver Market Report – 7/29/2014

METALS UP AS HOME PRICES DOWN

Precious Metals are showing small gains and are higher through early morning trading.  As investors prepare for a week full of closely watched economic data, speculation on the direction of metals is growing while geopolitical turmoil continues to dominate the news.  Commerzbank analyst Daniel Briesemann said, “I'm actually surprised that Gold isn't up even more, given the numerous geopolitical risks.  We've had some relatively good economic data published of late, and we're currently seeing a stronger dollar. That is keeping the price in check.”

U.S. stock futures rose Tuesday while data showed a decline in pending U.S. home sales.  After the first decline in more than four months, Marshall Gittler, head of global FX strategy at IronFX, said the report “confirmed [Federal Reserve] Chair [Janet] Yellen’s remarks before the Senate Banking committee earlier this month about the overall slowdown in the housing sector.”

At 9:52 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,302.70, Down $1.60.
  • Silver, $20.61, Up $0.05.
  • Platinum, $1,487.90, Down $3.70.
  • Palladium, $885.50, Up $3.80.

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. - See more at: http://www.apmex.com/Commentaries/2864/morning-gold-silver-market-report-7-28-2014#sthash.1woy5b8H.dpuf

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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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