Mid-Day Gold & Silver Market Report – 8/30/2013

SYRIA IN HEADLINES KEEPS PRESSURE ON METALS

Precious Metals are trending downward through mid-day trading as the speculation of an imminent military attack on Syria is starting to lose momentum. However, Gold futures rose nearly 7 percent for the month of August and around 14 percent for the quarter. Mark O’Byrne, executive director at GoldCore in Dublin, said, “The smart money is in position or positioning itself for the coming rally which should see Gold back above $1,600/oz by year end.” 

U.S. stocks declined on the final day of August trading and are poised to have the worst  monthly decline since May 2012. Most sectors are trading lower, with energy stocks being the exception due to continued speculation of a Syrian air strike and effects it could possibly have on the region.  Historically, Gold and other Precious Metals prices have risen with international conflict as investors turn to the metals to provide stability in their portfolios.

At 1:28 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,399.20, Down $15.80.
  • Silver, $23.55, Down $0.62.
  • Platinum, $1,525.10, Down $1.70.
  • Palladium, $721.40, Down $17.70.

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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
4/17/2014 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


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