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Market Reports

Closing Gold & Silver Market Report – 8/26/2013


Gold’s worldwide demand has held steady as the yellow metal is currently entering a bullish market after falling into a bear market earlier this year. The safe haven appeal is returning to Gold as the market has received mixed messages from the U.S. Federal Reserve and economic data. “Physical demand is very strong, and that is lending support to prices, and we think it's time to increase our holdings,” Michael Mullaney, the Boston-based chief investment officer for Fiduciary Trust Co., said. “The economy is improving, but there are some misses, which intensify the debate on tapering and increases demand for Gold as a safe-haven investment.”

The new concern looming over Congress is whether to allow the government to borrow additional funds before the U.S. defaults on its financial obligations in mid-October. “Congress should act as soon as possible to protect America's good credit by extending normal borrowing authority well before any risk of default becomes imminent,” Treasury Secretary Jack Lew said in a letter to congressional leaders. The same scenario occurred in the summer of 2011 when Congress failed to reach an agreement and the U.S. credit rating was downgraded by S&P.


At 5:51p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,406.70, Up $8.90.
  • Silver, $24.37, Up $0.58.
  • Platinum, $1,551.00, Up $8.40.
  • Palladium, $749.10, Down $3.30.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! 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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