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Market Reports

Morning Gold & Silver Market Report – 8/28/2013


The Gold price is continuing its rally this morning, topping $1,430 per ounce for the first time since May. Concerns over the situation in Syria appear to be the main catalyst of this rally. Historically, Gold is viewed as a safe haven in times of geopolitical tension. The U.S. and its allies have told Syrian opposition that a military response could be expected after last week’s chemical weapons attack. The Gold price is up nearly eight percent in August, which is its biggest one-month rise since January 2012.

PIMCO chief executive officer Mohamed El-Erian called himself a “worrywart” in an essay written this week, listing a number of reasons why he continues to worry about the U.S. economy post-Lehman Brothers. Among those reasons, he mentioned that Western economies continue to struggle with jobs and growth, politicians are extremely passive (such as the U.S. Congress not passing an annual budget), and the bankers that caused the 2008 financial meltdown have not been forced to change their ways.

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

  • Gold, $1,429.80, Up $7.60.
  • Silver, $24.91, Up $0.20.
  • Platinum, $1,527.40, Down $5.70.
  • Palladium, $745.90, Down $4.80.
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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