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


Gold continues to hover inside a narrow range as a low volume trading day has kept the price fairly flat. The upcoming European Central Bank meeting and recent pressure on equities markets have failed to cause significant price movement for the yellow metal. However, as Gold stalled today, the Platinum price is up 1.5 percent as concern over production output in South Africa (the world’s largest extractor of Platinum) and a positive global economic growth outlook have increased the demand for the largely industrial metal. With equities markets and industrial commodities rallying since the beginning of the year, Gold has taken a breather as the metal awaits more strident news to break it free from its current range.

After a shaky start to the trading day, stocks ended the day up as recent gains continue to an earnings-based rally. Dan Greenhaus, chief global strategist at BTIG, commented on today’s modest gains, saying, “It’s still an earnings-driven story. Based on investor reaction to consumer stocks, the consumer isn’t doing all that bad.” Much hesitancy remains among investors who are still skeptical about recent gains and U.S. monetary policy. With no foreseeable end to loose spending measures from Washington, speculators predict another year of gains in the Gold price.

At 5 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,678.60, Up $4.60.
  • Silver, $31.88, Down $0.04.
  • Platinum, $1,738.00, Up $30.80.
  • Palladium, $764.80, Down $1.70.

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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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 9:51:27 PM EST

Metal Bid Ask Change
Gold $1,292.00 $1,294.00 $1.40
Silver $19.51 $19.61 ($0.14)
Platinum $1,404.30 $1,414.30 $4.70
Palladium $796.80 $801.80 ($1.50)
4/24/2014 9:51:27 PM EST

Click here for Historical Charts*All Charts are in USD

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