Mid-Day Gold & Silver Market Report – 7/12/2013


Precious Metals prices are trading flat today as Gold and Silver are set for their first week of gains in one month. Federal Reserve Chairman Ben Bernanke’s assuring commitment to ultra-loose monetary policy helped drive the safe haven appeal of metals as a hedge against dollar devaluation. This week’s upward movement has some experts predicting a reversal in the recent downward trend Gold has been experiencing. Felix Zulauf, president of Zulauf Asset Management, said, “Gold has turned here for a good recovery bounce, as the technicals are extremely oversold, leading to a run into the mid/upper $1,300 in coming weeks.” The perpetuation of quantitative easing measures by central governments weighs heavily on world currencies and has traditionally increased demand for Precious Metals.

Following Thursday’s market rally that boosted equities indexes to new record highs, stocks remain relatively flat headed into the weekend. “The market is catching its breath after a big push to a record high,” Alan Gayle, senior strategist at RidgeWorth Capital Management, said. As Ben Bernanke has asserted that monetary stimulus measures will continue uninterrupted, stocks have continued their impressive climb. Investors will await news of a possible exit strategy as analysts and economists weigh the potential effects a tapering program will have on markets.

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

  • Gold, $1,279.40, Down $3.50.
  • Silver, $19.90, Down $0.15.
  • Platinum, $1,407.20, Down $0.40.
  • Palladium, $723.70, Up $4.50.

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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
4/16/2014 9:33:54 AM EST

Metal Bid Ask Change
Gold $1,302.40 $1,304.40 $2.10
Silver $19.58 $19.68 $0.15
Platinum $1,432.10 $1,442.10 ($2.50)
Palladium $797.60 $802.60 $5.80
4/16/2014 9:33:54 AM EST

Click here for Historical Charts*All Charts are in USD

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