Morning Gold & Silver Market Report – 1/18/2013

CHINA’S ECONOMY, U.S. MANUFACTURING KEEP METALS FLAT

Gold and Silver are mostly flat this morning after economic data showed China’s economy grew 7.9 percent in the fourth quarter compared to last year, which was well above forecasts. The safe haven appeal of Gold received a boost after the Federal Reserve Bank of Philadelphia’s regional manufacturing gauge showed disappointing results. Strategists at Credit Suisse said, “Within Precious Metals, Platinum and Palladium continue to show the strongest technical picture, and further upside is possible. While looking less attractive in relative comparison, Gold and Silver are also showing signs of a momentum bottom.”

Troubles in the eurozone continue to mount, and one country that has been out of the headlines recently is still very much a problem. Spain may not need a bailout soon, but risks are present and future flare-ups are possible, according to Nicholas Spiro of Spiro Sovereign Strategy. Ishaq Siddiqi of ETX Capital said, “We would caution turning bullish on Spanish stocks during the first half of this year given there are still plenty of hurdles and unknowns in the way before investors should switch the bullish signals on.”

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

  • Gold, $1,694.50, Up $1.70.
  • Silver, $32.01, Up $0.16.
  • Platinum, $1,681.00, Down $19.50.
  • Palladium, $724.00, Down $3.20.

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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
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD


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