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Market Reports

Morning Gold & Silver Market Report – 5/31/2013


U.S. stock indices are set to open lower this morning as investors await consumer spending and manufacturing data to give more clues on the future of the U.S. Federal Reserve’s bond buying program. End of month volatility is expected to be high today as well. ETX Capital market strategist Ishaq Siddiqi said in a note, “It’s the end of the month, so we are seeing huge bouts of volatility. Furthermore, appetite to book profits is running high before the month of June starts as stock indices have performed respectably again in May.”

The Gold price is not immune to this volatility, as it has backed off its two week highs. Gold has a strong inverse correlation to the U.S. dollar and changes in the price of the dollar have an impact on the Gold price. Commerzbank chief Precious Metals trader Adrien Biondi said, "Gold is clearly reacting to the movements in the dollar and share markets." Fears that the U.S. central bank could reign in their bond buying program had initially sparked a rally in the dollar and a selloff in Gold; as weak data has come out, people have once again put faith in assets like Gold.

At 9:14 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,408.70, Down $5.30.
  • Silver, $22.40, Down $0.39.
  • Platinum, $1,463.30, Down $20.90.
  • Palladium, $747.50, Down $13.10.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 7 p.m. (CDT)! Or call us Fridays until 5 p.m. (CDT)! 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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