Closing Gold & Silver Market Report – 8/13/2013


Following a four day rally, Gold ended the day down after a strong dollar and an optimistic U.S. economic outlook increased the likelihood the U.S. Federal Reserve will soon rein in its monetary easing program.  Strong economic data has outweighed negative data in 2013, which Jim Russell, senior equity strategist at U.S. Bank’s Private Client Reserve, said is “consistent with the Federal Reserve moving ahead with the first step of tapering purchases of both Treasury and mortgage-backed securities in the open market over the next few weeks.”  Though the Gold price has taken a beating this year, worldwide demand for Gold is historically boosted in post-summer months as industrialized nations manufacture jewelry ahead of the various holidays.  Along with figures that show China overtaking India as the number one buyer of physical Gold, the third quarter could be a robust period for the yellow metal.

U.S. stocks rebounded from early losses Tuesday as a two-day losing streak was halted following mixed retail sales reports indicating modest domestic expansion.  “I don’t know that we’re going to have a roaring recovery anytime soon, but the economy does seem to be advancing, slowly but certainly advancing, and that I think has sunk in finally,” Pioneer Investment Management Inc. fund manager John Carey said.  As economic numbers continue to show improvement, many analysts are confident the Fed will announce their intentions to begin a reduction of monetary easing during September, and traders and investors await the potential impact on both Precious Metals and equities markets.

At 5:24 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,322.20, Down $14.00.
  • Silver, $21.51, Up $0.08.
  • Platinum, $1,499.60, Down $0.10.
  • Palladium, $739.40, Up $0.30.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! 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.

« Return to Commentaries


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
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More

APMEX Reviews

Just a short note, I've been dealing with you for several years your products are excellent customer service top shelf, packaging delivery top notch, and a easy fun website to look at.

Kevin | January, 2014 View All

As seen on...