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Market Reports

Morning Gold & Silver Market Report – 7/3/2014

ECONOMIC DATA IMPRESSES

U.S. stock futures added to gains after the release of three key data points for the economy. Expectations were met or exceeded when the Labor Department announced that jobless claims increased slightly to 315,000, the unemployment rate fell to 6.1 percent, and the economy added 288,000 jobs in June. The latter is much more than the expected 215,000.

Precious Metals started the day in the red and briefly dipped lower after the data releases. However, Gold and Silver have since 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.”

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

  • Gold, $1,319.30, Down $13.60.
  • Silver, $21.09, Down $0.21.
  • Platinum, $1,504.80, Down $7.70.
  • Palladium, $854.60, Down $2.80.

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.

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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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