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Market Reports

Mid-Day Gold & Silver Market Report – 3/11/2014

MIXED DATA LEAVE GOLD, STOCKS FLAT

Precious Metals prices reacted negatively to a volatile stock market that inched its way higher during morning trading. Kim Caughey Forrest, portfolio manager and senior equity analyst at Fort Pitt Capital, said, “Markets are confused right now, after getting conflicting set of data. On the one hand, job openings indicated demand for workers and improvement in labor market, on the other, wholesale inventories rose, as businesses overshot and could not sell goods sooner.”

The Gold price is mostly flat from Monday’s levels, as investors look at the still-hostile situation in Ukraine and poor export data from China. Philip Futures analyst Joyce Liu said, “Gold continues to be largely supported above $1,329 [per ounce], and while prices are unlikely to break above $1,361.60 in the absence of war, underlying support from the Ukrainian crisis … is likely to keep prices elevated above $1,320 for an extended time.”

At 1:31 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,349.50, Up $6.10.
  • Silver, $20.88, Down $0.07.
  • Platinum, $1,466.80, Down $12.40.
  • Palladium, $771.60, Down $5.20.

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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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