Mid-Day Gold & Silver Market Report – 6/12/2013


Though Precious Metals remain under pressure from the prospect of weakening commitment to quantitative easing (QE) measures, Gold is up midway through Wednesday following two straight sessions of losses.  As European equities rise today, U.S. shares are settling lower though recent momentum for both metals and stock markets have been generally reversed. “Thinking about safe havens versus risk-on assets, in the short term Gold might be subdued as money goes into other asset classes,” Mitsubishi analyst Jonathan Butler said. However, ongoing signals for loose monetary policy in efforts to stimulate lagging global economies are expected to have a long-term bullish impact on Gold and other Precious Metals.

The S&P 500 has fallen for the third day in a row as investors dubiously eye the rate of U.S. growth and the future of QE. This uncertainty has instigated market volatility in recent weeks. “We went from QE, relied upon and predictable, to mixed messages in most of the capital markets of the world,” David Kotok, chief investment officer at Cumberland Advisors, Inc., said. Investors will await news from the Federal Reserve regarding monetary stimulus to see whether this year’s bull market can be sustained.

At 1:30 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,393.90, Up $14.90.
  • Silver, $21.94, Up $0.17.
  • Platinum, $1,482.50, Up $1.10.
  • Palladium, $758.00, Up $5.50.

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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
4/25/2014 1:52:52 AM EST

Metal Bid Ask Change
Gold $1,292.10 $1,294.10 $1.50
Silver $19.51 $19.61 ($0.14)
Platinum $1,402.10 $1,412.10 $2.50
Palladium $798.30 $803.30 ($0.10)
4/25/2014 1:52:52 AM EST

Click here for Historical Charts*All Charts are in USD

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