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Morning Gold & Silver Market Report – 8/27/2013


Gold and Silver prices are trading approximately two percent higher in early-morning trading after concerns over the unrest in Syria and confusion over quantitative easing tapering in the U.S. sent stock futures lower.  Monday, U.S. Secretary of State John Kerry condemned the chemical weapon use by the Syrian government as a “moral obscenity.”  Nick Lewis of London Capital Group explained, “Syria has taken over the mantle of market concern.  The increasing political pressure in the States to intervene led U.S. markets lower, and Europe is following.”

Marketwatch’s Michael Gayed believes that Gold’s recent price movements are calling the U.S. Federal Reserve’s bluff regarding potential tapering.  He wrote, “The fact that Gold is starting to outperform strongly into the September Fed meeting may mean bets are rising that the Fed will not rock the boat, but instead re-adjust crowd mentality away from cutting back on bond buying. Perception-wise, then, this may mean Gold's strength is anticipating a reversal in yields, more money printing, and another bout of stimulus.”

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

  • Gold, $1,422.80, Up $27.60.
  • Silver, $24.71, Up $0.64.
  • Platinum, $1,548.80, Up $3.30.
  • Palladium, $748.50, Up $1.00.

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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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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