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Mid-Day Gold & Silver Market Report – 5/14/2014

PRECIOUS METALS FEEL PRESSURE AS CONSUMER PRICES RISE

Precious Metals prices have continued to pullback through mid-day trading giving back some of the gains from the previous day. The combination of a rise in consumer inflation prices and a drop in U.S. jobless claims have pressured Precious Metals, while triggering a shift in investor sentiment to riskier assets. Naeem Aslam, chief market analyst at AvaTrade, said, “Traders are punishing gold on the back of this data as it shows an improvement in the economic growth.

U.S. stocks are on the decline today and under heavy selling pressure, continuing to fall from previous all-time highs.  Art Cashin, director of floor operations at UBS Financial Services said, “Volume is at its lightest of the year.  We like to say 'volume is validity,' but that's not always true. A ship can sink in a quiet sea. That probably is a bit more ominous if we continue to go down as we have in light volume because it becomes evident that it's not heavy selling.”

At 1:01 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,297.70, Down $10.20.
  • Silver, $19.56, Down $0.27.
  • Platinum, $1,467.60, Down $17.80.
  • Palladium, $813.40, Down $16.40.

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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