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Closing Gold & Silver Market Report – 1/21/2014

GOLD LOWER AHEAD OF TAPER EXPECTATIONS

The Gold price softened today on pressure from the anticipation of another stimulus taper. Gold is looking to break free from the bearish market that saw it lose more than 20 percent of its value during 2013.  With quantitative easing (QE) slowing and stocks clawing toward new record highs, value hunting investors are buying Gold and Silver coins and bars at what they perceive to be discount prices.

Stocks finished lower for a third straight session today as corporate earnings data disappointed yet again. “In the short term, continued earnings growth is particularly important,” James W. Gaul, a portfolio manager at Boston Advisors LLC, said. “We are no longer cheap, perhaps not even fairly valued at this point. Investor sentiment is quite optimistic. We need some positive news to get us going.” Stocks will need strong earnings numbers going forward as macro-economic data is taking the place of QE as the central motivator of equities markets. 

At 1:45 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,244.10, Down $10.30.
  • Silver, $19.96, Down $0.39.
  • Platinum, $1,453.50, Down $2.60.
  • Palladium, $747.60, Up $1.00.

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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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