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Market Reports

Closing Gold & Silver Market – 11/5/2013


The Gold price fell slightly today to reach a two-week low as U.S. service industries grew fast enough to influence Federal Reserve officials to potentially begin tapering its quantitative easing measures.  “The better-than-expected ISM number increases speculation whether tapering will begin in December or not,” R.J. O’Brien & Associates’ senior commodity broker Phil Streible said.  Strength in the U.S. dollar versus other leading world currencies along with bearish sentiment among short-term investors continues to put pressure on Precious Metals prices.

Along with minimal movement in Precious Metals markets, U.S. stocks moved only slightly lower on Tuesday following two straight sessions of gains.  "When the market gets to these levels, near all-time highs, it's almost like the whole market is saying, 'when is the next shoe going to drop,' so I just think it's nervous trade," TD Ameritrade’s chief strategist JJ Kinahan said.  After reaching record highs last week and news of weak eurozone expansion projections for 2014, stocks are taking a breather.  Investors will await Friday’s unemployment numbers to gain new insight into the future of the Fed’s stimulus program.

At 7:32 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,313.00, Up $2.90.
  • Silver, $21.74, Down $0.05.
  • Platinum, $1,453.50, Up $2.50.
  • Palladium, $753.60, Up $2.30.

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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World Market Trading Hours

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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