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Mid-Day Gold & Silver Market Report – 1/18/2013

U.S MINT SELLS OUT OF SILVER AMERICAN EAGLES

The United States Mint may not be a common conversation topic around the dinner table, but so far this month, the 6,007,000 ounces of Silver they have sold has been enough to suspend Silver sales. In essence, the Mint has sold out of Silver coins. We have yet to reach the record of 6.42 million ounces sold in January 2011, but there is still time. When sales resume, it will be interesting to see how quickly the 2013 Silver American Eagle, which went into production this month, is consumed again.

On Thursday, the S&P closed at its highest in more than five years and the Dow was very close to a similar record. There is a sentiment that the bull market isn’t finished. Some investors believe that the stock market could move higher, especially if the political uncertainty is resolved.  Chairman and CEO of Morgan Stanley, James Gorman, said, “The U.S. economy is recovering. That's unmistakable. The speed of it still remains to be determined.”

At 2:19 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,687.10, Down $5.70.
  • Silver, $31.89, Up $0.05.
  • Platinum, $1,699.90, Down $29.20.
  • Palladium, $721.60, Down $5.50.

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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Disclaimer:
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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