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

Our Daily
Market Reports

Morning Gold & Silver Market Report – 7/15/2013

GOLD RETREATS, STOCKS POSITIVE ON RETAIL SALES

The Gold price dipped lower in overnight trading Monday after posting the strongest weekly gain in nearly two years. A stronger dollar, rising ahead of U.S. retail sales data, is putting pressure on the Precious Metal. Danske Bank analyst Christin Tuxen said, “There is expectation that U.S. retail sales may be a fairly good number following the steady improvement we have seen in the past few months, which of course could add to the picture that will impact on the Fed's decision to taper stimulus.” The Gold price’s rise last week was due in part to U.S. Federal Reserve Chairman Ben Bernanke’s comments supporting continued easing for the foreseeable future. Tuxen continued to say, “The main focus is Bernanke's testimony to the Congress [Wednesday and Thursday], and that should really give us more guidance to whether tapering will start in September or December.”

While retail sales data may be hurting the Gold price, it is fueling U.S. stock prices. David Kelly, chief global strategist at J.P. Morgan Funds, said, “[The retail-sales report for June] should reassure analysts that despite some weakness in overall GDP growth, real consumer spending should have grown for the 14th consecutive quarter this spring.” This morning’s gains come on the heels of record closings Friday for both the Dow and the S&P. Bank earnings are still in the spotlight today as the second quarter earnings season continues.

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

  • Gold, $1,283.70, Up $3.10.
  • Silver, $19.86, Down $0.03.
  • Platinum, $1,412.10, Up $5.20.
  • Palladium, $725.60, Up $1.80.

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.

AURIC