Closing Gold & Silver Market Report – 9/30/2013


Precious Metals remain slightly down for the day ahead of a possible U.S. government shutdown. Gold was hit hard this year during the first quarter when prices dropped dramatically, but the yellow metal has risen 8.4 percent so far this quarter as the market has become more bullish for several reasons. Investors have been more attracted to Gold in particular as the Federal Reserve has been sending mixed messages on its future plans with fiscal policy along with the condition of the U.S. economy. “The Fed has made it clear that the economy is weak, and the stimulus spigot will be open full-bore,” John Stephenson at First Asset Investment Management Inc., said. “That means they’re continuing to inject more into the money supply, and that is a bullish argument for Gold.”

The U.S. congress has until Oct. 17 to come to an agreement on raising the debt ceiling to avoid default, but if it’s not done today, we could see the government shut down. The economic effect could include the closing of non-essential operations that include sending hundreds of thousands of workers home. It was made apparent Sunday after remarks made by House Majority Whip Kevin McCarthy that the House of Representatives may attempt to find a resolution to dodge a shutdown at the last minute.

At 5:01p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,331.20, Down $10.00.
  • Silver, $21.75, Down $0.11.
  • Platinum, $1,404.70, Down $13.00.
  • Palladium, $723.40, Down $8.40.
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.

« 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
4/24/2014 3:01:59 AM EST

Metal Bid Ask Change
Gold $1,285.80 $1,287.80 $1.20
Silver $19.36 $19.46 ($0.03)
Platinum $1,392.80 $1,402.80 ($1.10)
Palladium $780.40 $785.40 ($1.60)
4/24/2014 3:01:59 AM 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...