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Market Reports

Morning Gold & Silver Market Report – 8/23/2013

METALS FLAT AGAINST DOLLAR, BOND YIELDS

Gold and Silver prices are mostly flat in early morning trading. The Gold price gave up earlier gains as the U.S. dollar rebounded from losses. U.S. Treasury bond yields rose, and HSBC analysts explained, “Rising U.S. Treasury yields are historically negative for Gold, and the potential for further weakness to U.S. Treasurys may weigh on bullion… [though] sideways trading is likely to persist for the Gold market in the near term.”

In an interview with CNBC, Atlanta Federal Reserve President Dennis Lockhart said, “I would be supportive [of tapering quantitative easing] in September as long as the data [coming] in between now and then basically confirm the path we're on.” Lockhart also said that a “strong pickup in the second half and into 2014” was his economic forecast, even though recent data hasn’t supported that view.

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,373.90, Up $1.10.
  • Silver, $23.19, Up $0.08.
  • Platinum, $1,541.70, Up $0.60.
  • Palladium, $755.30, Down $1.30.
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Disclaimer:
APMEX 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. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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