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Market Reports

Morning Gold & Silver Market Report – 11/15/2013


Profit taking has Gold and Silver prices down slightly in early morning trading. U.S. Federal Reserve Chair nominee Janet Yellen’s testimony to the U.S. Senate yesterday saw dovish monetary policy comments lift Precious Metals prices. MKS Capital senior trader Alex Thorndike said, “I think a $1,270-$1,300 [per ounce] range should hold into next week. The market will now look to next week's (Fed meeting) minutes for any further information on a tapering timeline, which of course will influence Gold and Silver.”

U.S. stock futures rose Friday morning ahead of economic data. Deutsche Bank analysts also commented on Yellen’s testimony, saying, “We got a glimpse of the future of the Fed under Yellen’s stewardship — and the verdict from markets is that we should expect policy continuity when Yellen officially takes the reins next year.” Accommodative monetary policy has helped both Precious Metals and stock market prices in the past, so a continuation is positive for both markets.

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

  • Gold, $1,288.90, Up $0.60.
  • Silver, $20.79, Up $0.01.
  • Platinum, $1,440.30, Down $4.80.
  • Palladium, $730.90, Down $10.40.

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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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