hp-free-shipping-truck Free Shipping On Orders Over $99

Our Daily
Market Reports

Morning Gold & Silver Market Report – 6/17/2013

FOMC TO MEET; MARKETS SHOW POSITIVE START

U.S. stock futures are making a move upward Monday morning as investors look forward to this week’s Federal Open Market Committee (FOMC) meeting. The hope is that the meeting will shed enough light on the U.S. Federal Reserve’s plan for tapering that investors can relax. This week’s upcoming data includes a manufacturer’s report and a home builder’s index. Jim Reid, strategist at Deutsche Bank, said, “We suspect that this week (Fed Chairman Ben) Bernanke will continue to say tapering will happen at some point, could happen this year but will be data-dependent, and that we are still a long way off from removing the very easy policy stance the Fed has in place.”

As the market and U.S. dollar index’s rise in anticipation of the FOMC meeting, the Gold price is heading the other way. The Gold price had closed last week on a higher note on strong bullion demand, a drop in the U.S. stock market and rising tension in the Middle East. Today, investors are once again considering the actions the Fed may take. Any easing of bond-buying programs, raising the prospect of future rate tightening, is seen as unfavorable for Gold. Rising rates also raise the opportunity cost for holding a Precious Metal that has no interest rate.

At 9:02 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,385.80, Down $3.80.
  • Silver, $21.91, Down $0.17.
  • Platinum, $1,444.70, Down $4.20.
  • Palladium, $721.20, Down $10.50.

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.

« Return to Commentaries

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.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20 a.m.-1:30 p.m. (ET)
Monday-Friday
8:25 a.m.-1:25 p.m. (ET)
Monday-Friday
8:20 a.m.-1:05 p.m. (ET)
Monday-Friday
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)

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.

Items In Cart


There are no items in the cart.

AURIC