Morning Gold & Silver Market Report – 12/27/2013
Ted Prince
12/27/2013 8:38:00 AM
LOW TRADING VOLUME KEEPS GOLD EVEN NEAR YEAR-END
Gold is trading slightly higher on Friday morning as 2013 comes to a close. Physical buying is helping to buoy the metal as low trading volume fails to spark any significant price movement. A strong stock market rally and perceived improvement to domestic and global economies has had a negative impact on Gold as the metal will close out the year lower for the first time in 12 years. "The market is really focusing on this pick-up in economic growth that we continue to see in the United States," Saxo Bank senior manager Ole Hansen said. As Gold settles just above $1,200 to close out the year, many physical buyers of Precious Metals continue to take advantage of what they view as discounted prices.
U.S. equities are looking to trade higher again on Friday as holiday buying looks to boost retail stocks following an all-time high for the Dow Jones Industrial Average on Thursday. As stocks look to extend gains for a seventh straight session today, the Dow is headed for its largest annual gain since 1996. As employment numbers continue to make modest improvements and global growth remains slow but steady, analysts and investors wonder what 2014 has in store following this year’s mega-rally.
At 9:37 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,218.30, Up $3.50.
- Silver, $20.11, Up $0.14.
- Platinum, $1,378.80, Up $12.50.
- Palladium, $713.80, Up $13.10.
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.
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
