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Morning Gold & Silver Market Report – 1/18/2013


Gold and Silver are mostly flat this morning after economic data showed China’s economy grew 7.9 percent in the fourth quarter compared to last year, which was well above forecasts. The safe haven appeal of Gold received a boost after the Federal Reserve Bank of Philadelphia’s regional manufacturing gauge showed disappointing results. Strategists at Credit Suisse said, “Within Precious Metals, Platinum and Palladium continue to show the strongest technical picture, and further upside is possible. While looking less attractive in relative comparison, Gold and Silver are also showing signs of a momentum bottom.”

Troubles in the eurozone continue to mount, and one country that has been out of the headlines recently is still very much a problem. Spain may not need a bailout soon, but risks are present and future flare-ups are possible, according to Nicholas Spiro of Spiro Sovereign Strategy. Ishaq Siddiqi of ETX Capital said, “We would caution turning bullish on Spanish stocks during the first half of this year given there are still plenty of hurdles and unknowns in the way before investors should switch the bullish signals on.”

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

  • Gold, $1,694.50, Up $1.70.
  • Silver, $32.01, Up $0.16.
  • Platinum, $1,681.00, Down $19.50.
  • Palladium, $724.00, Down $3.20.

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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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.

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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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