Morning Gold & Silver Market Report – 2/6/2014


Precious Metals are trading higher in early morning trading, ignoring a drop in weekly jobless claims. Thursday brings a European Central Bank (ECB) rate decision, with a keen eye on hints as to whether ECB president Mario Draghi is looking to ease policy further. Commerzbank analyst Carsten Fritsch explained, “These macro events are relevant for the Gold market for the impact they can have on the dollar and stock markets.” Fritsch also said that the year-to-date strength in Gold price is directly relative to weakness in global stocks.

U.S. stock futures are pointing toward a higher opening for Wall Street. The weekly jobless claims report showed 20,000 claims less than the prior week, about 9,000 fewer than expected. Investors now set their eyes on Friday’s jobs report for clues on the economy. Gary Thayer, chief macro strategist at Wells Fargo Advisors, said, “I think the market is expecting a decent (jobs) number, but they're worried with the weather… The question is whether it's as bad as everyone thinks.”

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

  • Gold, $1,263.10, Up $4.20.
  • Silver, $20.12, Up $0.25.
  • Platinum, $1,383.70, Up $2.40.
  • Palladium, $714.30, Up $6.20.
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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
4/21/2014 5:52:04 AM EST

Metal Bid Ask Change
Gold $1,287.40 $1,289.40 ($6.50)
Silver $19.31 $19.41 ($0.24)
Platinum $1,401.00 $1,411.00 ($17.70)
Palladium $789.00 $794.00 ($14.10)
4/21/2014 5:52:04 AM EST

Click here for Historical Charts*All Charts are in USD

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