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Morning Gold & Silver Market Report – 3/5/2014

JOBS DATA LIFTS GOLD

The Gold price erased some early losses after the release of the Automatic Data Processing private-sector jobs report. Though economists had forecast the economy adding 160,000 jobs, the report showed 139,000 jobs were added in February. ADP also revised January’s gain from 175,000 to 127,000. Investors will now turn their focus to the Labor Department’s jobs report to be released Friday for direction on the Gold price, as well as monitoring the situation in Ukraine.

U.S. stock futures are pointing to a higher open for Wall Street, shrugging off the disappointing jobs report. On tap for Wednesday is the release of the Federal Reserve’s Beige Book, which will offer insight on the details of the last Federal Reserve policy meeting. Investors will be looking for clues to the central bank’s view of monetary policy and quantitative easing.

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

  • Gold, $1,338.70, Down $1.20.
  • Silver, $21.27, Up $0.03.
  • Platinum, $1,484.30, Up $18.20.
  • Palladium, $777.90, Up $14.10.

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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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