Morning Gold & Silver Market Report – 10/17/2013


The domino effect that seems to have begun with the debt-ceiling deal is causing Precious Metals prices to rise, as quantitative easing tapering is now not expected to begin any time soon. Commerzbank analyst Daniel Briesemann said, “Tapering will be postponed much further, so that's probably the main aspect behind the current spike in prices.”

Chinese rating agency Dagong downgraded the U.S. sovereign debt rating, saying that the U.S. “government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future.” This caused the U.S. dollar and stock futures to fall. The weekly jobless claims report was released this morning and showed claims dropped by 15,000, which was lower than the predicted drop of 18,000. The report’s release caused the dollar and stock futures to fall further and Precious Metals prices to rise further.

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

  • Gold, $1,315.90, Up $31.60.
  • Silver, $21.83, Up $0.43.
  • Platinum, $1,420.50, Up $23.30.
  • Palladium, $725.30, Up $10.70.

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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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
4/16/2014 12:31:46 AM EST

Metal Bid Ask Change
Gold $1,300.30 $1,302.30 $0.00
Silver $19.49 $19.59 $0.06
Platinum $1,431.10 $1,441.10 ($3.50)
Palladium $790.90 $795.90 ($1.10)
4/16/2014 12:31:46 AM EST

Click here for Historical Charts*All Charts are in USD

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