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

Our Daily
Market Reports

Morning Gold & Silver Market Report – 8/12/2013

GOLD RISES ON ASIAN ECONOMIC NEWS

Gold futures are trading higher this morning as SPDR Gold Trust Fund, the world’s largest Gold exchange traded fund (ETF), substantially increased its holdings by 1.8 metric tons, marking its first growth since early June.  Boosted by today’s news, Gold could realize a four session winning streak initially prompted by last week’s strong import and industrial output data from China. “The higher-than-expected import growth indicates a Chinese domestic-demand recovery, which will bode well for gold demand,” Sharps Pixley director Austin Kiddle said.  While the desire for Gold ETFs in the U.S. has waned over the last several months, electronic Gold holdings from eastern nations like China and Japan have stayed constant despite the yellow metal being down nearly 21 percent this year.  According to Kiddle, this data indicates “that Asia and emerging markets will help shape the future Gold demand.”

As Gold breaks for modest gains Monday, U.S. stock futures are down following their worst weekly close since June.  Weighing down equities today was the release of poor gross domestic product data from Japan.  After a week in which it appeared that China’s economy was finally rebounding, the Nikkei, Japan’s benchmark stock index, has fallen to its lowest level in six weeks.  With western nations currently digesting reports from Asia, eyes will turn to domestic news to gain a foothold on the market’s next movement as the release of U.S. budget deficit details are set for this afternoon.   

At 8:41 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,342.50, Up $28.30.
  • Silver, $21.36, Up $0.86.
  • Platinum, $1,508.70, Up $7.10.
  • Palladium, $745.90, Up $3.40.

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.

« 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.

PLATINUM