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Mid-Day Gold & Silver Market Report – 10/15/2013


Precious Metals prices are flat through mid-day trading. Even as U.S. leaders continue to work on both a debt ceiling deal and the government shutdown, tapering of quantitative easing (QE) is still in the back of many investors’ minds.  When asked for his thoughts on the government avoiding a debt default, Eric Green of TD Securities said a good outcome could “push the normalization of [monetary] policy further in to the future” and raise the “possibility that tapering turns more aggressive when it does start.” This could raise the potential for volatility in the market, which, as Green went on to say, “may handicap the [Federal Reserve’s] capacity to organize a withdrawal from QE within a market fixated on the flow effects of Fed purchases.”

Today, Senate Majority Leader Harry Reid denounced a measure reportedly being considered by House Republicans. He then warned the measure would bring the country closer to default, saying, “the U.S. credit ratings could be downgraded as soon as Tuesday night.” With the U.S. debt deadline dominating the news, international interest is very high.

At 1:27 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,274.40, Down $4.20.
  • Silver, $21.23, Down $0.15.
  • Platinum, $1,381.30, Down $1.20.
  • Palladium, $707.50, Down $8.80.

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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