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Market Reports

Morning Gold & Silver Market Report – 9/23/2013


U.S. stock futures are slipping this morning as investors await speeches from Federal Reserve officials regarding stimulus tapering. Nine officials are expected to speak this week, and there is prevalent hope that the representatives will offer insight to the Fed’s overall strategy regarding the reduction of quantitative easing (QE). With last week’s unexpected announcement that the Fed will not begin scaling back the level of QE, many analysts and investors are now looking to Washington for a plan for the U.S. debt ceiling. Though the House of Representatives have passed a budget bill designed to keep the government active into December, a potential government shutdown weighs heavily on the confidence of investors.

Uncertainty surrounding U.S. fiscal policy continues to weigh on Precious Metals today as Gold continues to fall after a substantial dip on Friday. Though many were surprised that the Fed was going to perpetuate QE uninterrupted, the notion of the inevitability of tapering continues to weigh on Precious Metals markets. All interested parties will be intently focused on this week’s round of speeches to garner a feeling of sentiment among Fed officials surrounding U.S. monetary policy.

At 9:31 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,325.10, Down $9.40.
  • Silver, $21.78, Down $0.18.
  • Platinum, $1,439.20, Down $4.40.
  • Palladium, $713.40, Down $7.60.

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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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