Morning Gold & Silver Market Report – 9/17/2013

TAPERING SEEN ON HORIZON AS FED MEETING BEGINS

The Gold price is mostly flat and the Silver price is slightly lower ahead of the start of the U.S. Federal Reserve’s two-day policy meeting. Most economists expect the result of this meeting to be a small beginning to quantitative easing (QE) tapering. The central bank, however, appears to be allowing the markets to dictate economic policy rather than the economy. Mike Moran of Daiwa Capital Markets America Inc. said, “Market expectations have moved to such a degree that by not tapering they would be generating confusion in markets. They might as well start to do it.”

U.S. stock futures are mostly flat in early-morning trading. Evan Lucas of IG believes a correction in the stock market would be acceptable at this time. He said, “There is a feeling that markets globally are gunning for a correction. It would be healthy and would take the 'twilight' concern out of the market as hedge fund managers scream about overvalue, bubbles and liquidity issues.” Historically, the Gold price has a mostly negative correlation to the stock market.

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,317.40, Down $2.40.
  • Silver, $21.88, Down $0.15.
  • Platinum, $1,437.50, Down $4.70.
  • Palladium, $707.40, Up $2.40.

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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