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Market Reports

Closing Gold & Silver Market Report – 7/9/2013


U.S. stocks climbed on Tuesday, specifically the S&P 500.  The S&P was within one percent of closing at it’s all time high as Wall Street seemed to be embracing a stronger economy, including higher interest rates.  JJ Kinahan, chief strategist with TD Ameritrade said, “The market is voting itself that things are improving, with interest rates going higher without taking the stock market down.”  He continued on to say that we need to test at least the 1,650 level or higher with the S&P, a level breached three weeks ago.  Other indexes are up today, the Dow is up for the fourth session in a row.

The Gold price extended its positive numbers into a second day rising the most in sevens sessions after breaking through a key technical level.  China’s inflation data boosted the Precious Metal’s appeal as a hedge against inflation for the world’s second largest consumer of Gold.  Analysts have said that rising Chinese inflation should hamper significant easing responses as we continue to see this enhanced demand for Chinese Gold.

At 5:15 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,251.60, Up $14.20.
  • Silver, $19.31, Up $0.19.
  • Platinum, $1,368.50, Up $6.50.
  • Palladium, $697.70, Up $2.30.

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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