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

Our Daily
Market Reports

Morning Gold & Silver Market Report – 6/28/2013

TAPERING AS EARLY AS SEPTEMBER; GOLD MINES CLOSE

The Gold price fell, and stock markets reversed course into the negative after comments from a Federal Reserve official.  Fed Gov. Jeremy Stein suggested that the central bank could begin tapering as early as September.  “The best approach is for the [Fed] to be clear that in making a decision in, say, September, it will give primary weight to the large stock of news that has accumulated since the inception of the program and will not be unduly influenced by whatever data releases arrive in the few weeks before the meeting,” Stein said.

The Gold price is hovering around a very important level with regards to production cost.  Reports have surfaced that many Gold mines have closed because it is simply too expensive to mine the metal compared to the current prices.  Andrew Su of Compass Global Markets said, “This fall in the price of Gold is not truly based on supply and demand - It's based on expectations of what the Federal Reserve is doing.  I think that somewhere along the line the Gold prices will simply start rising, because production will reduce supply significantly.”

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

  • Gold, $1,195.50, Down $18.10.
  • Silver, $18.63, Down $0.02.
  • Platinum, $1,317.80, Down $9.40.
  • Palladium, $644.70, Down $6.00.

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.

« 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.

PLATINUM