Our Daily
Market Reports

Closing Gold & Silver Market Report – 3/12/2014

GOLD UP AS UKRAINE, CHINA DOMINATE NEWS

Gold prices continued to slowly rise through afternoon trading as the metals gained momentum.  A drop in U.S. equities, disappointing economic data from China and the ongoing situation in Ukraine are providing metal prices with a boost with Gold set for its highest closing price in six months and fourth consecutive session gain.  Chintan Karnani, chief market analyst at Insignia Consultants in New Delhi, said, “Better-than-expected U.S. February retail sale numbers should have resulted in Gold prices falling by at least $20 from the high of $1,375.70 [on Comex], which has not been the case.  This suggests that traders are cautious going short in Gold and/or reflects [the] dual mindset of traders.”

U.S. stocks tumbled Thursday as investors continue to take in the global landscape.  Ian Lyngen, senior Treasury strategist at CRT Capital, said, “It's a little bit of a return of flight to quality. There are headlines about Russia from [U.S. Secretary of State John] Kerry and the Ukraine president and just the general sense that things are going to get worse before they improve.”  This could be big news for the yellow metal as Gold prices tend to increase at times of higher volatility and when the stock market struggles.

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

  • Gold, $1,372.40, Down $0.10.
  • Silver, $21.22, Down $0.17.
  • Platinum, $1,480.00, Up $1.70.
  • Palladium, $777.80, Up $0.60.

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.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for gold, silver, platinum and palladium on our Spot Price Charts page.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

AURIC