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Market Reports

Mid-Day Gold & Silver Market Report – 9/17/2013


Precious Metals are continuing to trade flat through mid-day trading. Gold has however held above $1,300 with investors still reluctant to take stronger positions. The Federal Reserve is holding their two-day policy meeting this week, and many traders are speculating to when the Federal Reserve will begin tapering the current quantitative easing policy. An announcement on tapering could begin to effect prices; however, Goldman Sachs analysts said Monday that they “remain neutral to Gold prices until the end of this year.”

U.S. Treasury Secretary Jack Lew warned Congress about waiting to take action on the nation’s debit ceiling. Lew said, “We cannot afford for Congress to gamble with the full faith and credit of the United States. If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll over their investments, we could unexpectedly dissipate our entire cash balance.” Any default on the nation’s debt could be disastrous, and would potentially be felt from Wall Street down to families and everyday businesses.

At 1:56 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,314.60, Down $5.20.
  • Silver, $21.86, Down $0.17.
  • Platinum, $1,427.50, Down $14.70.
  • Palladium, $705.80, Up $0.70.

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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