hp-free-shipping-truck Free Shipping On Orders Over $99

Our Daily
Market Reports

Closing Gold & Silver Market Report – 11/20/2013

METALS, STOCKS FALL AFTER FED MINUTES

Precious Metals prices fell after the afternoon release of the minutes from the Federal Reserve’s October meeting. Stock futures also plummeted after the release, as the S&P 500’s loss streak extended to the longest in eight weeks. The minutes showed that Fed officials expect economic data to improve to the point where they could begin to taper the quantitative easing (QE) program, possibly by next month. “The battle lines are clearly drawn, with some at the Fed now itching to scale back QE unless the incoming data are awful; the cumulative rise in payrolls since QE3 started is enough for these members. We think [Janet] Yellen is not persuaded of this view but it will be hard for the doves if November payrolls are strong,” Pantheon Macroeconomics chief economist Ian Shepherdson said.

However, some disagree with that assessment. “The market is still expecting a taper next year, not in December of this year,” Wells Fargo Private Bank chief investment officer Dean Junkans said. Peter Boockvar, chief market analyst at the Lindsay Group, added, “Unless we see big upside in the November payroll report, Yellen will take the reins in January with current policy on track and she'll decide where to go from there.” 

At 5 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,244.90, Down $31.10.
  • Silver, $19.91, Down $0.49.
  • Platinum, $1,393.50, Down $27.40.
  • Palladium, $712.80, Down $10.60.

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.

« Return to Commentaries

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.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20 a.m.-1:30 p.m. (ET)
Monday-Friday
8:25 a.m.-1:25 p.m. (ET)
Monday-Friday
8:20 a.m.-1:05 p.m. (ET)
Monday-Friday
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)

Disclaimer:
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.

Items In Cart


There are no items in the cart.

PLATINUM