Morning Gold & Silver Market Report – 11/20/2013


U.S. Federal Reserve Chairman Ben Bernanke spoke at the National Economists Club’s annual dinner Tuesday to discuss the future of the Fed’s $85 billion monthly bond buying program.  “The target for the federal funds rate is likely to remain near zero for a considerable time after the asset purchases end, perhaps well after” the jobless rate falls below the Fed’s target of 6.5 percent, Bernanke said. The unemployment rate is a substantial factor in determining when tapering will begin as it reflects the overall stability of the U.S. economy.

U.S. consumer prices were released this morning and reflected a 0.1 percent drop in October due to a decline in energy prices.  The Labor Department said this was the first consumer price decline since April.  The U.S. economy is struggling to get out of its slow growth pattern, but with lower consumer demand, that is proving difficult.  The Federal Reserve has continued their asset purchasing as low inflation has been the key factor to the highly discussed stimulus program. 

At 10:08 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,260.20, Down $15.80.
  • Silver, $20.23, Down $0.17.
  • Platinum, $1,402.30, Down $18.60.
  • Palladium, $716.30, Down $7.10.

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 6:21:48 PM EST

Metal Bid Ask Change
Gold $1,302.50 $1,304.50 ($1.00)
Silver $19.60 $19.70 $0.02
Platinum $1,426.60 $1,436.60 ($1.20)
Palladium $800.00 $805.00 $1.70
4/16/2014 6:21:48 PM EST

Click here for Historical Charts*All Charts are in USD

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