Our Daily
Market Reports

Weekly Gold & Silver Market Recap – 7/3/2014

The Gold price experienced a slight but steady series of gains this week on the back of a weak U.S. dollar until the all-important monthly jobs report was released Thursday.  Strong hiring figures pointed to ongoing improvement in the health of the U.S. economy and temporarily quelled the demand for the safe-haven asset.  Investor focus remained concentrated on developments in Iraq until the employment report became public today.  With ongoing improvements in the U.S. economy and equities markets continuing to surge to record levels,  Gold may have to rely on escalating crises overseas to buoy short-term prices.  

Precious Metals started Thursday in the red and briefly dipped lower after employment data releases. However, Gold and Silver quickly recovered those extra losses. UBS said in a note, “Given the factors currently lined up against Gold — positioning, weak physical markets, and potentially strong employment — any sign of resilience in the face of stronger data will be an important signal that investors may be becoming friendlier to Gold.”

U.S. stocks rose, and the Dow Jones Industrial Average eclipsed 17,000 for the first time on Thursday. Speaking on the labor and trade deficit data, JJ Kinahan of TD Ameritrade said, “It was a very good report … The bond market is saying, the economy is healthier than people are giving it credit for.” The 10-year Treasury rose five basis points at its highest Friday morning.

A weaker U.S. dollar has pushed Gold to its highest level in 14 weeks on Tuesday.  The yellow metal has rallied the last couple weeks as recent developments in Iraq have helped bolster the safe-haven appeal of Precious Metals.  “The dollar weakness is helping Gold stay supported at the current levels,” Mike Dragosits, a senior commodity strategist at TD Securities in Toronto, said in a telephone interview. “Economic data will determine how dovish the [U.S. Federal Reserve] remains, and that will guide Gold.”  Both Platinum and Palladium experienced a sizable boost on Tuesday as markets are still attempting to normalize following the South African miner strike that halted production in the world’s most fertile location for the production of both metals.

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

  • Gold, $1,322.30, Down $10.60.
  • Silver, $21.18, Down $0.13.
  • Platinum, $1,502.50, Down $10.00.
  • Palladium, $861.50, Up $3.10.

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.

NYMEX Markets
CME Globex
World Markets

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


There are no items in the cart.