Morning Gold & Silver Market Report – 1/17/2013

SPANISH DEBT AUCTION A SUCCESS; PLATINUM TOPS GOLD

If you are looking for excitement in the U.S. stock market, you may be left wanting. Futures on the Dow and the S&P are not showing us much this morning; however, the euro took a stronger position against the dollar and yen in overnight trading when a Spanish debt auction lifted sentiment toward riskier assets. They sold 4.5 billion euros in new bonds at a lower cost than in previous auctions. This was a sign of growing confidence among investors in the recession prone area.

The Gold price traded in a tight range overnight despite the positive news for the euro. Andrey Kryuchenkov, capital analyst with VTB Capital, said, “We maintain our preference for wider ranges to hold on spot Gold prices as choppy macro trading prevails, with attention to U.S. December housing starts and weekly jobless claims later today.” The Gold price may begin to increase again when debt ceiling talks come back into focus. In positive news for Platinum, the metal surpassed Gold in overnight trading for the first time in 10 months.

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

  • Gold, $1,671.70, Down $13.40.
  • Silver, $31.19, Down $0.39.
  • Platinum, $1,685.90, Down $7.80.
  • Palladium, $723.00, Down $4.50.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EST)! Or call us Fridays until 6 p.m. (EST)! 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’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

US Dollar Prices are in USD

Precious Metal Prices
4/24/2014 12:18:40 AM EST

Metal Bid Ask Change
Gold $1,286.70 $1,288.70 $2.10
Silver $19.43 $19.53 $0.04
Platinum $1,395.70 $1,405.70 $1.80
Palladium $782.60 $787.60 $0.70
4/24/2014 12:18:40 AM EST

Click here for Historical Charts*All Charts are in USD


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