Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/22/2014

GOLD DOWN AS STOCK MARKET RALLIES

The Gold price is ending the day slightly lower as investors throw money toward the rallying stock market. Colin Cieszynski, senior market analyst at CMC Markets, said, “There’s nothing specific about today’s Gold decline. It’s part of an overall outflow from defensive havens back into risk markets.” Fawad Razaqzada, technical analyst at FOREX.com, said, “Traders are understandably allocating more of their funds to speculate in the rally stock markets, as evidenced by further outflows from Gold-backed exchange traded funds.”

Meanwhile, the S&P 500 locked up its first six-day win streak in over six months, though Jim Russell, senior equity strategist for US Bank Wealth Management, warned that Ukraine could still impact markets. He said, “Stocks are reacting to modestly higher first-quarter earnings that of course are weather impacted, and the housing numbers looked constructive today. We think the Ukrainian situation is clearly the external wildcard at this point.”

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

  • Gold, $1,285.90, Down $4.60.
  • Silver, $19.46, Up $0.06.
  • Platinum, $1,401.90, Up $1.20.
  • Palladium, $785.30, Up $6.50.

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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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