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Market Reports

Morning Gold & Silver Market Report – 7/5/2013


Precious Metals prices fell this morning, reacting to a stronger-than-expected jobs report for June.  Danske Bank analyst Christin Tuxen said that a stronger jobs report “would suggest that although rates are set to stay at record lows in Europe, that may not be the case in the United States.”  The U.S. dollar rose more than one percent against competitors due to weakness in the euro, which also contributed to the losses in metals.

The jobs report showed a gain of 195,000 jobs in June, though the unemployment rate was unchanged at 7.6 percent due to an increase in the labor force of 177,000.  The jobs readings from April and May were revised upwards as well.  The good economic news has many investors believing that the Federal Reserve’s tapering of its quantitative easing program could indeed be coming soon, putting pressure on the price of Gold.

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

  • Gold, $1,224.70, Down $29.30.
  • Silver, $19.08, Down $0.72.
  • Platinum, $1,327.60, Down $19.20.
  • Palladium, $671.30, Down $14.40.

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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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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