Mid-Day Gold & Silver Market Report – 1/23/2014


Gold prices continue to rise as investors digest news of a weaker U.S. dollar and the possibility of higher demand in one of the world’s largest Gold purchasing countries, India.  Sonia Gandhi, leader of India’s Congress party, has reportedly asked the Indian government to relax Gold import curbs. “Should restrictions be lifted, then gold demand won’t just return to previous levels but there will be an explosion of pent up demand to begin with,” Jan Skoyles head of research at The Real Asset Co., said.

U.S. stocks declined rapidly Thursday as investors domestically and internationally considered disappointing manufacturing data from China.  When asked his thoughts on the Chinese news weighing on Wall Street, Robert Pavlik, chief market strategist at Banyan Partners said, “as far as economic growth is concerned, and the potential for it to lead to pressure on loans they have outstanding; that's weighing on the market.”

At 9:45 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,266.90, Up $25.20.
  • Silver, $20.10, Up $0.22.
  • Platinum, $1,461.70, Down $2.70.
  • Palladium, $745.10, Down $3.80.

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 3:05:33 PM EST

Metal Bid Ask Change
Gold $1,295.20 $1,297.20 ($8.30)
Silver $19.55 $19.65 ($0.04)
Platinum $1,410.80 $1,420.80 ($17.00)
Palladium $793.80 $798.80 ($4.50)
4/17/2014 3:05:33 PM EST

Click here for Historical Charts*All Charts are in USD

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