Morning Gold & Silver Market Report – 2/6/2013

BOND-FUND CHIEF PICKS GOLD

Precious Metals prices are fluctuating this morning, with Gold flat, Silver and Palladium down, and Platinum up more than one percent. PIMCO’s Bill Gross picked Gold as his Number One investment for 2013. He said, “The real risk to the financial markets is the marginal proclivity of investors to put their money in real assets, or under the mattress. Thus, my first recommendation is [an investment in Gold].” Felix Zulauf of Zulauf Asset Management said, “It’s a special sign of our times that the head of the leading bond fund picks Gold as his first recommendation.”

The Gold price recovered from early losses this morning as U.S. stock futures turned lower. The large sell-off of stocks on Monday was a reminder that “there’s really some problems with the economy and in Europe,” according to Henrik Drusebjerg of Nordea. “The European debt crisis is far from over and politicians can still screw this up. I think that will be something we will be reminded of from time to time during 2013.”

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

  • Gold, $1,675.90, Up $1.90.
  • Silver, $31.68, Down $0.23.
  • Platinum, $1,727.90, Up $20.70.
  • Palladium, $761.80, Down $4.70.

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 9:05:48 AM EST

Metal Bid Ask Change
Gold $1,275.70 $1,277.70 ($8.90)
Silver $19.19 $19.29 ($0.20)
Platinum $1,384.80 $1,394.80 ($9.10)
Palladium $782.00 $787.00 $0.00
4/24/2014 9:05:48 AM EST

Click here for Historical Charts*All Charts are in USD


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