Closing Gold & Silver Market Report – 12/2/2013


In response to the better-than-expected U.S. manufacturing data released today, the price for Gold dropped in afternoon trading, settling to its lowest level since early July of this year.  Prices for Silver, Platinum and Palladium ended the day down as well.  According to the Barclays Global Macro Survey published November 27, a majority of investors surveyed believe that over the next three months, equities will be the most profitable investment class.

U.S. stocks also ended the day down, responding to investor concerns about the holiday shopping season’s mixed start and the jobs report scheduled to come out this Friday.  Ian Kerrigan, investment specialist at J.P. Morgan Private Bank, said, “We were kind of expecting a down week after eight weeks of being up.”  He added, “We've had such a strong year, if the market wants to take a break in December, it's well deserved.”  Today’s drop marks an end to a winning streak of nearly two months for both the Dow Jones Industrial Average and the S&P 500, with the Dow in particular experiencing its biggest decline since November 7.

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

  • Gold, $1,221.10, Down $31.30.
  • Silver, $19.17, Down $0.88.
  • Platinum, $1,344.00, Down $26.30.
  • Palladium, $712.10, Down $7.50.

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
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

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