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Morning Gold & Silver Market Report – 8/6/2013


Economic data from the U.S. and Europe pulled the Gold price down in overnight trading.  Sharps Pixley CEO Ross Norman said, “We fell through the psychological support level of $1,300 last night, and it does feel as the prevailing dollar strength is curtailing Gold momentum.  [However,] it is hard to read too much into moves during the summer months as the market can fluctuate widely on very small trades.”  Automatic electronic sale orders were activated when the Gold price fell below $1,300, which furthered the impact of the losses.

Data released this morning by the Commerce Department showed that the U.S. trade deficit fell to its lowest level in nearly four years.  The combination of lower imports and higher exports caused the gap to shrink to $34.2 billion in June, from $44.1 billion in May.  The U.S. imported a total of $225.4 billion in June, compared to exporting $191.2 billion.

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

  • Gold, $1,289.30, Down $15.10.
  • Silver, $19.68, Down $0.13.
  • Platinum, $1,434.90, Down $14.20.
  • Palladium, $728.90, Down $7.90.

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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