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Market Reports

Morning Gold & Silver Market Report – 6/19/2013


As the markets open this morning, the Gold price is up slightly. The markets have been waiting for the United States Federal Reserve to speak on the future of their monetary easing program and today the wait is over. There has been much speculation on what will be said by Fed Chairman Ben Bernanke and when it is announced the markets will take notice. “Any signs of improvement in growth expectations will further fuel uncertainty about the Fed’s asset purchase program,” Mumbai-based Kotak Commodity Services Ltd. said today in a report. “Any sign of curtailment in asset purchases will be negative for Gold, however it has been factored in to some extent.”

Many economists believe today’s Fed announcement is being over hyped and will fall short of expectations. Their reasoning is that the economy has improved but not as much as is needed to start tapering the easing program. As with past announcements, it is believed the Fed will continue to monitor the situation and act accordingly. "Should the outlook improve as the Fed expects, then it may continue to lay the groundwork for a tapering of purchases at upcoming [Federal Open Market Committee] meetings. However, should the data evolve more in line with our forecast, then we see the Fed as refraining from tapering until the first quarter of 2014," Michael Gapen, an economist with Barclays in New York, said.

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

  • Gold, $1373.40, Up $4.50.
  • Silver, $21.76, Down $0.04.
  • Platinum, $1438.00, Down $4.10.
  • Palladium, $706.30, Down $2.10.

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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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