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Market Reports

Mid-Day Gold & Silver Market Report – 10/28/2013


The Gold price remained flat in morning trading, while stocks continued to trade in a narrow range. The Dow Jones Industrial Average and S&P 500 are coming off three straight weeks of gains in a record rally. With the two-day Federal Reserve policy meeting later this week, Michael Sheldon of RDM Financial Group said, “Investors are waiting for more in terms of earnings and economic reports. The tone of the market overall remains positive, but the rate of gains may slow down from the rate we've seen over the past several weeks.”

Historically, inflation has been bullish for the Gold price. As the value of the U.S. dollar falls, the price of Gold typically rises. The New York Times’ Binyamin Appelbaum recently focused on the changing viewpoint that inflation could be good for the economy. Appelbaum pointed out that even members of the Fed, including current Fed President Ben Bernanke’s successor, Janet Yellen, “have long argued that a little inflation is particularly valuable when the economy is weak.” Harvard economist Kenneth S. Rogoff recently wrote, “Weighed against the political, social and economic risks of continued slow growth after a once-in-a-century financial crisis, a sustained burst of moderate inflation is not something to worry about. It should be embraced.”

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

  • Gold, $1,355.20, Up $0.70.
  • Silver, $22.59, Down $0.10.
  • Platinum, $1,473.50, Up $16.90.
  • Palladium, $751.00, Up $2.10.

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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