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Market Reports

Morning Gold & Silver Market Report – 10/29/2013


The Gold price is retreating from a five-week high in early morning trading as the Federal Reserve’s two-day policy meeting begins today. Expectations are that when the meeting concludes Wednesday, the Fed will announce a continuation of its highly-accommodative quantitative easing program. VTB Capital analyst Andrey Kryuchenkov said of the Gold price, “We had decent gains yesterday and a bit of profit-taking was to be expected. The main focus remains on the Fed and the market seems to have factored in the central bank will not change its current accommodative stance. … The market will continue to be sensitive to any U.S. data and bullion's trade will continue to be strongly correlated to the dollar index.”

MarketWatch’s Brett Arends gave five reasons that the stock market bulls are getting it wrong. Arends likened today’s situation to that of the dotcom bubble of 1999 and the housing bubble of 2006. Among reasons given were recent stock valuations in bubble territory, the fact that even noted market bears are turning bullish, and current debt levels.

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

  • Gold, $1,348.60, Down $5.60.
  • Silver, $22.57, Down $0.02.
  • Platinum, $1,467.70, Down $6.20.
  • Palladium, $743.50, Down $8.00.

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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