Mid-Day Gold & Silver Market Report – 1/13/2014
JIM ROGERS HOLDING ON TO GOLD POSITION
Gold and Silver prices have risen slightly in morning trading. Jim Rogers of Rogers Holdings said in an interview with Bloomberg that he believes the commodities boom is not over. Rogers said that he is not selling his Gold position, though he has hedged it. He added that though the Gold price had a bad showing in 2013, there will be a time to buy Gold again.
Oil prices have fallen after Iran reached a deal with six countries to curb its nuclear program. As a result of the deal, U.S. President Barack Obama spoke to Congress with the goal of preventing further sanctions on Iran. Previous sanctions against the country prevented approximately one million barrels of oil per day from being exported. Those barrels should now be available in the global markets by January 20.
At 3:02 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,255.30, Up $5.90.
- Silver, $20.45, Up $0.18.
- Platinum, $1,444.60, Up $5.70.
- Palladium, $740.50, Down $5.60.
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