Mid-Day Gold & Silver Market Report – 7/19/2013


As stocks struggled during morning trading, Gold is up again, set for its second positive week in a row.  Though the move upward is not as vigorous as many investors would like, a weaker U.S. dollar and lower equities figures have traditionally been positive for the yellow metal.  Following this week’s Congressional testimony by Federal Reserve Chairman Ben Bernanke, Gold gained support as it became clear that quantitative easing will remain unaltered for the time being.  Though Bernanke alluded to the recent difficulty in predicting price patterns for Gold, many experts have referenced a drop in overall Gold production along with strong physical demand in Asia as two key mechanisms providing support for the metal. 

U.S. stocks are taking a breather today as both the Dow Jones Industrial Average and S&P 500 rose to record levels Thursday.  Today’s wavering stock prices are due to disappointing corporate earnings data from several key organizations.  “It is a bit of a lukewarm earnings overall with a couple of high-profile misses,” PNC Wealth Management chief investment officer James Dunigan said. “When you see some weakening there it does give some pause to what the earnings picture will be moving forward.”

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

  • Gold, $1,295.70, Up $8.60.
  • Silver, $19.54, Up $0.06.
  • Platinum, $1,430.70, Up $15.90.
  • Palladium, $750.30, Up $1.80.

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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 3:08:20 PM EST

Metal Bid Ask Change
Gold $1,302.50 $1,304.50 $2.20
Silver $19.57 $19.67 $0.14
Platinum $1,428.60 $1,438.60 ($6.00)
Palladium $798.20 $803.20 $6.30
4/16/2014 3:08:20 PM EST

Click here for Historical Charts*All Charts are in USD

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