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Market Reports

Mid-Day Gold & Silver Market Report – 7/19/2013


As stocks struggled during morning trading, Gold is up again, set for its second positive week in a row.  Though the move upward is not as vigorous as many investors would like, a weaker U.S. dollar and lower equities figures have traditionally been positive for the yellow metal.  Following this week’s Congressional testimony by Federal Reserve Chairman Ben Bernanke, Gold gained support as it became clear that quantitative easing will remain unaltered for the time being.  Though Bernanke alluded to the recent difficulty in predicting price patterns for Gold, many experts have referenced a drop in overall Gold production along with strong physical demand in Asia as two key mechanisms providing support for the metal. 

U.S. stocks are taking a breather today as both the Dow Jones Industrial Average and S&P 500 rose to record levels Thursday.  Today’s wavering stock prices are due to disappointing corporate earnings data from several key organizations.  “It is a bit of a lukewarm earnings overall with a couple of high-profile misses,” PNC Wealth Management chief investment officer James Dunigan said. “When you see some weakening there it does give some pause to what the earnings picture will be moving forward.”

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

  • Gold, $1,295.70, Up $8.60.
  • Silver, $19.54, Up $0.06.
  • Platinum, $1,430.70, Up $15.90.
  • Palladium, $750.30, 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

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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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