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Mid-Day gold & Silver Market Report – 11/13/2013


The selloff of Gold has been temporarily curbed due to physical demand from central banks on expectations that the Federal Reserve will soon begin tapering its monetary stimulus measures.  “The weakness in equities is bringing some people to Gold,” David Meger, director of metal trading at Vision Financial Markets, said. “The price drop has improved physical demand.” Lower prices have pushed volume at the Shanghai Gold Exchange to a one month high as China, the world’s second largest buyer of Gold, takes advantage of lower prices.  The next technical level that Gold needs to breach in order for traders and investors to see a bullish trend will be above $1,326 an ounce.   

Stocks are down again today as the Dow Jones Industrial Average and S&P 500 are set to realize two straight sessions of losses for the first time this month.  Investors are eyeing global market data and central bank policies to gain perspective on the future of U.S. stocks.  With most analysts and economists predicting an initial taper of Fed stimulus measures in March, expectations of a sooner-than-expected reduction could cause markets to fall further. 

At 1:20 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,274.00, Up $0.80.
  • Silver, $20.57, Down $0.26.
  • Platinum, $1,431.50, Down $9:10.
  • Palladium, $731.60, Down $11.80.

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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