Morning Gold & Silver Market Report – 11/19/2013

GOLD, SILVER FLAT AHEAD OF FED MINUTES

Gold and Silver prices are mostly flat in early-morning trading. Minutes from the Federal Reserve’s October meeting are scheduled to be released Wednesday, and investors and analysts will be combing the details for any clues as to the timing of quantitative easing tapering. Peter Fertig, owner of Quantitative Commodity Research, said, “The latest comments from Fed officials raised again concerns that the (Federal Open Market Committee) might not taper in December but this uncertainty is likely to remain in the market until the decision is finally made. … I don't expect the minutes to bring any new information which would alter the picture but you never know how the market reacts.”

U.S. stock futures are pointing toward a flat open for Wall Street. Famed investor Carl Icahn, owner of Icahn Enterprises LP, said he was “very cautious” on equities. He also mentioned that a “big drop” could be in store, and these words are making many investors nervous. Stan Shamu, market strategist at IG Group, said, “While Icahn’s comments were mainly blamed for [yesterday’s] selloff, at such elevated levels, investors are always looking for excuses to take some profits off the table.”

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

  • Gold, $1,276.20, Up $1.40.
  • Silver, $20.41, Down $0.01.
  • Platinum, $1,411.50, Down $0.50.
  • Palladium, $718.80, Up $0.50.

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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
4/23/2014 4:33:39 PM EST

Metal Bid Ask Change
Gold $1,284.20 $1,286.20 $3.10
Silver $19.40 $19.50 $0.09
Platinum $1,395.70 $1,405.70 $5.40
Palladium $782.70 $787.70 $3.10
4/23/2014 4:33:39 PM EST

Click here for Historical Charts*All Charts are in USD


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