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Market Reports

Mid-Day Gold & Silver Market Report – 5/17/2013


The Gold price continues to trend downward as the metal is poised for its longest consecutive session losing streak in four years. The central motivator influencing Gold’s decline is the continued speculation surrounding a potential reduction of quantitative easing (QE) and a rising dollar that has nearly reached a three-year high. Coupled with renewed investor optimism regarding the current bullish direction of U.S. stocks, Gold is experiencing a harsh short-term move.

Though Gold bugs are wincing as they realize consecutive sessions of losses, many remain positive as several factors point to a bullish long-term outlook for the yellow metal. The stock market rally that has seen the Dow Jones and S&P 500 reach record levels is thought to be overinflated by many analysts and is not supported by macroeconomic fundamentals. Fear of central bank sell-offs of Gold holdings have subsided since the initial panic triggered by rumors of Cyprus liquidating a portion of its reserves to fund a potential bailout. The future prospect of Gold demand in India and the current physical buying frenzy among retail investors worldwide indicate good news for long-term Precious Metals investors. 

At 1:18 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,368.60, Down $21.30.
  • Silver, $22.48, Down $0.29.
  • Platinum, $1,468.60, Down $18.50.
  • Palladium, $742.30, Down $0.50.

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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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
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World Markets
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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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