Morning Gold & Silver Market Report – 1/23/2013


The Gold price is relatively flat while the Silver price is on an upswing this morning. Many investors seem to be waiting on the results of a vote to temporarily increase the debt ceiling until a longer term resolution can be put in place. Regarding the long-term picture for the Gold price, Standard Bank analyst Walter de Wet said, “We continue to see a lot of monetary easing from the Bank of Japan and other central banks, and we think ultimately this will pick up Gold sentiment once again.”

With the House of Representatives set to vote on the debt ceiling later today, some strategists are warning of the risks of the resolution failing to pass. The U.S. stock market is seeing an uptrend across the board since the beginning of the month, but these strategists say that can go away without a resolution. “The market is very dependent on government action. Any type of messy behavior or inconclusive action from the government has tremendous potential to derail this rally, which is almost predicated fully on government action,” Adam Sarhan of Sarhan Capital said.

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

  • Gold, $1,694.50, Down $0.70.
  • Silver, $32.37, Up $0.16.
  • Platinum, $1,700.70, Up $2.20.
  • Palladium, $725.30, Down $5.60.

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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 11:58:36 PM EST

Metal Bid Ask Change
Gold $1,291.80 $1,293.80 $1.20
Silver $19.50 $19.60 ($0.15)
Platinum $1,403.00 $1,413.00 $3.40
Palladium $797.60 $802.60 ($0.70)
4/24/2014 11:58:36 PM EST

Click here for Historical Charts*All Charts are in USD

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