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Mid-Day Gold & Silver Market Report – 8/26/2013

GOLD NEAR BULL MARKET

The Gold price has remained flat in morning trading, treading water just below the $1,400 per ounce mark. Barratt Bulletin newsletter founder Jonathan Barratt believes that Gold is nearing a bull market again. He said, “When you look at Gold, it only has to travel back through $1,416 [per ounce] to re-enter the bull market. So we're pretty close to that and it [the gains] has been the result of physical demand, geopolitical issues and also in the U.S. and what's happening with tapering.”

The Silver price has been a standout recently and is up approximately two percent in morning trading. Atyant Capital Global Opportunities Fund lead portfolio manager Vedant Mimani said, “Gold investors tend to be more conservative relative to Silver investors so Gold investors may be taking a wait-and-see approach, while the Silver community is trying to get ahead of the Fed.” However, Morgan Stanley research recently discovered that Silver’s supply and demand fundamentals have been improving lately, also helping the metal see a boost in price.

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

  • Gold, $1,395.50, Down $2.30.
  • Silver, $24.12, Up $0.33.
  • Platinum, $1,545.90, Up $3.30.
  • Palladium, $747.30, Down $5.10.

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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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