Closing Gold & Silver Market Report – 9/12/2013

TAPERING COULD BE ON HORIZON; SYRIAN TENSIONS EASED FOR NOW

Precious Metals continued their downward trend through afternoon trading.  Economic data released today, which fueled speculation that the Federal Reserve will finally begin to taper it’s monetary easing program this month, along with no announcement of a strike on Syria, have continued to put pressure on metals.  Sharps Pixley CEO Ross Norman said, “With things quieter on the Syria front and really not much to add on taper, the market is behaving quite technically just now and traders are very much studying the charts. “

U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov began talks on disarming Syria’s chemical weapons programs. While the agreement between Syria and Russia seems to be cooling things down in the region, many remain skeptical. Kerry said, “Expectations are high. They are high for the United States, perhaps even more so for Russia, to deliver on the promise of this moment. This is not a game and I said that to my friend Sergei when we talked about it initially … It has to be timely and implemented in a timely fashion, and finally there ought to be consequences if it doesn't take place."  Historically, Precious Metals prices rise in war times.

At 4:15 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,322.70, Down $43.10.
  • Silver, $21.78, Down $1.42.
  • Platinum, $1,437.80, Down $36.70.
  • Palladium, $689.00, Down $1.20.

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.

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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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