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Mid-Day Gold & Silver Market Report – 6/20/2013


After United States Federal Reserve Chairman Ben Bernanke hinted at the end of their monetary easing policy yesterday, the Precious Metals market started moving downward and hasn’t stopped since. However, the U.S. stimulus policy is not the only issue weighing on the price of Precious Metals today. "We're seeing a stronger U.S. dollar, real rates are looking quite strong, inflation is very low and U.S. 10-year yields are at 2.4 percent. In that environment, Gold is going to suffer,” Deutsche Bank analyst Daniel Brebner said.

Lost in the news of the monetary easing policy announcement were even more reasons the Fed may lower rates. Retail home sales in the U.S. jumped to a three and a half year high in May and a major jump in factory activity in the mid-Atlantic region of the U.S. was reported. Even with the positive news, stock markets in the U.S. and Europe have moved lower today. One expert believes this is simply a knee-jerk reaction. "The market tends to overshoot and will continue to do so. We'll probably see an overreaction to this," Lazard Capital Markets’ managing direct Art Hogan said.

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

  • Gold, $1292.90, Down $83.10.
  • Silver, $19.96, Down $1.78.
  • Platinum, $1368.00, Down $58.00.
  • Palladium, $665.00, Down $31.40.

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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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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