Closing Gold & Silver Market Report – 1/16/2014

GOLD FINISHES FLAT AS INVESTORS AWAIT DIRECTION 

The Gold price closed today with a slight boost from mid-day trading.  A decline in the strength of the U.S. dollar along with slipping U.S. equity markets helped provide Gold with the boost needed to finish the day with a gain for the first time in three sessions. When asked his opinion on Gold’s direction, H.C. Wainwright managing director Jeffrey Wainwright said the upcoming keys for Gold are “signs of risk on or risk off via the equity markets and the inverse impact to Gold.”

U.S. stocks finished Thursday mostly lower based on the release of earnings data that disappointed the market.  Jim Russell, senior equity strategist for U.S. Bank Wealth Management, said, “There's a shift from the rising tide lifting all boats in 2013 related to the [U.S. Federal Reserve] policy of [quantitative easing] to much more disparity between winners and losers, which we're starting to see in the retail area and the financial area. Some are able to execute in this slow-growth environment, others maybe not.”  With Gold historically having a safe-haven appeal and our markets struggling, investors may begin to look away from risk-richer asset classes like equities and turn to Gold to provide balance. 

At 5:20 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,244.70, Down $3.90.
  • Silver, $20.14, Down $0.05.
  • Platinum, $1,436.00, Up $5.40.
  • Palladium, $744.10, Up $0.10.

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.

« Return to Commentaries

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
4/17/2014 11:57:45 AM EST

Metal Bid Ask Change
Gold $1,300.20 $1,302.20 ($3.30)
Silver $19.58 $19.68 $0.00
Platinum $1,430.90 $1,440.90 $3.10
Palladium $800.60 $805.60 $2.40
4/17/2014 11:57:45 AM EST

Click here for Historical Charts*All Charts are in USD


Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More



APMEX Reviews

Just a short note, I've been dealing with you for several years your products are excellent customer service top shelf, packaging delivery top notch, and a easy fun website to look at.

Kevin | January, 2014 View All

As seen on...