Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 5/13/2014

METALS, STOCKS FLAT AFTER DATA

Gold and Silver prices were mostly flat in morning trading as stocks hovered near the record highs reached Monday. The dollar gained against the euro, hitting a one-month high against the European Union’s joint currency. Commerzbank analyst Daniel Briesemann said, “What's pointing to lower prices are the stronger equity markets, the firmer dollar. (But) it looks as though the Gold price has found some support around these levels. It seems to be a level at which buyers are stepping in, seeing the price as a buying opportunity.”

Morgan Stanley economist Ted Wieseman believes that while the unusually harsh winter certainly affected the economy, it didn’t knock the recovery off the rails. Wieseman and his team’s economic view is influenced by a teammate’s research on how economies recover from crises that shows recovery typically takes around ten years. Wieseman said, “We’ve left the legacy of the recession in the rearview mirror,” but the recovery isn’t finished yet.

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

  • Gold, $1,298.70, Up $0.80.
  • Silver, $19.61, Up $0.02.
  • Platinum, $1,456.40, Up $14.50.
  • Palladium, $818.50, Up $8.80.

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.

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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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