Mid-Day Gold & Silver Market Report – 9/24/2013

METALS CONTINUE TO FEEL PRESSURE

Precious Metals prices continue to trade lower through afternoon trading.  Increasing speculation on when the Federal Reserve will begin to slow its bond buying program are once again having an effect on prices. Commerzbank AG wrote in a report today, “The debate about whether the Federal Reserve may begin scaling back its bond purchases when it next meets at the end of October is continuing to weigh on the price.”

U.S. consumer confidence took a turn for the worse in September, reaching its lowest level since May.   Viewpoints of stagnant wages and fear over new job creation in the next six months are starting to show in consumer data, which could potentially effect markets in the coming months. IHS Global Insight director of consumer economics Chris G. Chistopher, said “Political bickering and finger pointing over the debt ceiling and possible government shutdown is not a positive for consumer mood and spending, especially in the fourth quarter when holiday retail sales are vital to many retail channels.” 

At 1:18 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,317.50, Down $11.50.
  • Silver, $21.63, Down $0.26.
  • Platinum, $1,421.30, Down $5.60.
  • Palladium, $719.00, Up $2.00.

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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 12:20:00 AM EST

Metal Bid Ask Change
Gold $1,301.20 $1,303.20 ($2.30)
Silver $19.51 $19.61 ($0.08)
Platinum $1,426.40 $1,436.40 ($1.40)
Palladium $796.80 $801.80 ($1.50)
4/17/2014 12:20:00 AM EST

Click here for Historical Charts*All Charts are in USD


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