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Market Reports

Morning Gold & Silver Market Report – 12/12/2013


Gold and Silver prices fell in early morning trading amid profit-taking and fears over the Federal Reserve tapering its quantitative easing program. Also weighing on the minds of investors is the expected passage of a budget deal in Washington. Because of these factors, Standard Bank’s Walter de Wet is informing clients “that Gold should be sold into rallies.” A decision on when to begin tapering is expected out of next week’s Federal Open Market Committee meeting.

The weekly jobless claims report and retail sales data were enough to push stock markets out of the red this morning, though Precious Metals barely budged. U.S. retail sales rose 0.7 percent in November, thanks to a strong improvement in auto sales. New jobless claims, however, rose much more than expected and now sit at the highest level in two months. The four-week average also rose by 6,000 and continuing claims rose by 40,000.

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

  • Gold, $1,237.20, Down $22.50.
  • Silver, $19.75, Down $0.66.
  • Platinum, $1,372.20, Down $15.00.
  • Palladium, $729.40, Down $9.20.
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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