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Mid-Day Gold & Silver Market Report – 7/31/2014


Gold has fallen today due to U.S. jobless claims dropping over the past month. Additionally, the Federal Reserve confirmed yesterday their plans to keep interest rates low as labor conditions continue improving. Gold has always been sought during economic uncertainty, such as from fall of 2008 until June 2011 when bullion prices soared 70 percent as the Fed began purchasing debt and kept borrowing costs at record lows. Currently, investors remain uncertain about geopolitical tensions, but they’re still optimistic for Gold’s safe haven appeal. 

U.S. consumer confidence retreated last week mainly due to restricted wage growth. As wages struggle to keep up with inflation, consumers are more conservative with their spending.  “Employment, usually a strong correlate of consumer sentiment, is better, and stocks, another strong correlate, have been on a tear,” Gary Langer, president of Langer Research Associates LLC, which produces data for Bloomberg, said in a statement. “But slow wage growth is a persistent concern.”

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

  • Gold, $1,283.60, Down $12.80.
  • Silver, $20.44, Down $0.16.
  • Platinum, $1,465.70, Down $16.20.
  • Palladium, $873.60, Down $7.50.

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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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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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