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Mid-Day Gold & Silver Market Report – 1/11/2013


We made it through the first round of debt ceiling talks, and now earning season is upon us. Soon we will have a clearer landscape for how the rest of the quarter and the year should look. Chuck Butler, president of EverBank World Markets said, “Once the landscape for those things can be laid out, the market will then have a clear direction. That direction most likely will include kicking the can down the road for the U.S., which would potentially drive the dollar down further, which would be good for Gold.” Gold has a negative correlation to the U.S. dollar and is viewed as a safe-haven asset.

The equities market is still growing; last week money flowed back into stock-based mutual funds at a pace we haven’t seen in more than four year. Volatility measures tell us that there is almost no fear in the market. The most recent American Association of Individual Investors survey came in with a 46.4 percent bullish reading, those expecting the market to be lower in six months fell to 26.9 percent. Why all the positive momentum?  Successfully surviving the “fiscal cliff” seems to be a good enough reason for now.

At 1:25 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,660.50, Down $19.50.
  • Silver, $30.44, Down $0.52.
  • Platinum, $1,632.10, Down $2.20.
  • Palladium, $704.80, Up $1.60.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EST)! Or call us Fridays until 6 p.m. (EST)! 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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World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

NYMEX Markets
8:20 a.m.-1:30 p.m. (ET)
8:25 a.m.-1:25 p.m. (ET)
8:20 a.m.-1:05 p.m. (ET)
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)

APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.


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