Mid-Day Gold & Silver Market Report – 7/26/2013

SILVER FUNDAMENTALS POINT TO UPSIDE POTENTIAL

Precious Metals are down headed into the weekend, though both Gold and Silver are still expected to realize another week of gains. With prices depressed to multi-year lows and the future scale of quantitative easing (QE) still in question, many experts view current Precious Metals prices as an excellent buying opportunity for investors. The massive sell-off of Silver futures contracts in the first half of 2013, which reduced the price by nearly 34 percent year-to-date, has diminished the Silver price to a level that has analysts touting the metal’s tremendous upside potential. As Silver prices have fallen to what some experts refer to as “artificially low” prices, many anticipate a reduction in Silver production. “The basic influence on Silver is the supply/demand relationship and there are potential issues for lower supply and higher demand at these lower price levels,” Michael Haynes, chief executive officer at APMEX Inc., said.

Stocks are set to sustain their first week of losses in nearly a month. The Dow Jones Industrial Average fell more than 100 points at one point as disappointing corporate earnings data weighed on investor sentiment and as concern continues surrounding the pullback of QE. “Fundamentals have been good, but the fundamentals from here are not going to support a run higher,” Timothy Hoyle, the director of research at Haverford Investments, said. As the month of August begins, anxiety remains a constant for investors who believe the Federal Reserve will begin cutting back the level of monetary stimulus in September.

At 12:11 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,323.10, Down $8.70.
  • Silver, $19.83, Down $0.42.
  • Platinum, $1,424.60, Down $23.30.
  • Palladium, $723.80, Down $18.00.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 7 p.m. (CDT)! Or call us Fridays until 5 p.m. (CDT)! 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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