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Market Reports

Morning Gold & Silver Market Report – 6/10/2013


The U.S. stock market gained in overnight trading on positive news from Japanese markets as stocks there rallied. Investors seem to be overlooking weaker data coming out of China, which indicates the world’s second largest economy is stuck in stagnant growth, and instead are looking ahead to a speech from St. Louis Federal Reserve President James Bullard. Bullard’s speech is the last scheduled before the Fed’s interest-rate decision in June. Due the rest of this week is a smattering of data including retail sales where investors will be looking for the effects of sequestration and higher taxes.

The Gold price eased again on Monday, but do to Silver’s continued underperformance, the two metals hit their highest Gold/Silver ratio since August 2010. A stronger dollar is one of the key factors for Gold’s continued decline. The Federal Reserve’s loose monetary policy has been a key driver for Gold’s previous success, and with anticipation of that policy coming to an end soon, the Gold price has been struggling for support. Interestingly, outflows from the world’s largest ETF New York’s SPDR Gold Trust slowed. The fund reported an outflow of only 6 tons last week as compared to an average of 24 tons a week over the previous two months.

At 9:10 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,382.80, Down $2.20.
  • Silver, $21.84, Down $0.01.
  • Platinum, $1,502.10, Down $2.00.
  • Palladium, $761.20, Up $0.00.
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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