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Market Reports

Mid-Day Gold & Silver Market Report – 6/6/2013


The Gold price broke higher today as a weaker dollar had a positive impact on Precious Metals. With news from Europe confirming sustained low interested rates and larger than expected gross domestic contraction in the region, Gold traders look ahead to Friday’s U.S. non-farm payroll numbers in hopes that the data will be enough to break the metal out of its stagnant trading range and regain some level of short-term direction. “We are trading at the middle level of the range $1,380 to $1,420 and not much going on,” Frederic Panizzutti, senior vice president at MKS Group, said. Following disappointing private sector employment numbers on Wednesday, Friday’s non-farm payroll figures could be the trigger needed to motivate a move out of Gold’s recent price pattern.

As traders and investors await Friday’s monthly jobs report, stocks are down again today with the Dow Jones Industrial Average remaining below 15,000. Record highs experienced by stock indexes over the last several months have softened on speculation surrounding a possible tapering of the Federal Reserve’s monetary stimulus measures. “We've had several days of substantial losses and we're headed for a mixed season waiting for tomorrow's unemployment numbers,” Peter Cardillo, chief market economist at Rockwell Global Capital, said. The summer months traditionally experience lower trading volume, but significant news about employment numbers or other economic factors could spur a new direction for stock and metals markets alike. 

At 1:11 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1416.90, Up $16.40.
  • Silver, $22.75, Up $0.11.
  • Platinum, $1530.20, Up $18.10.
  • Palladium, $761.60, Up $5.20.

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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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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