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Mid-Day Gold & Silver Market Report – 4/10/2014

GOLD MAINTAINS GAINS, STOCK PRICES FALL

Gold and Silver are holding on to momentum gained in morning trading. Stocks fell early, rebounded on the jobs report and headed downward again. The Nasdaq is down two percent as technology and biotech were especially hard hit.  "Clearly investors are nervous about high-flying momentum stocks. There is a rethink on whether better earnings and economic data will support a resumption of the momentum that was driving biotechnology and higher-flying technology stocks earlier in the year," Edward Jones investment strategist Kate Warne said. Investors are paying more and more attention to earnings and cash flow.

The Gold price is affected by geopolitical events, so investors have been keeping an eye on recent tensions in the Ukraine. Today, Russian President Vladimir Putin threatened to shut off Ukrainian gas deliveries unless European leaders take steps to stabilize the region. Russia already has 40,000 combat-ready troops along the Ukraine border.  North Atlantic Treaty Organization Secretary-General Anders Fogh Rasmussen said today in Prague, “Russia is stirring up ethnic tensions in eastern Ukraine. If Russia is serious about a dialogue, the first step should be to pull back its troops.”

At 1:12 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,321.50, Up $13.60.
  • Silver, $20.13, Up $0.31.
  • Platinum, $1,460.10, Up $21.20.
  • Palladium, $794.20, Up $10.70.

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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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