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Market Reports

Mid-Day Gold & Silver Market Report – 1/2/2014


Increased demand for physical Gold has given the metal its largest single session boost in three weeks today.  Expectations that Asian buyers of Gold bars and jewelry will continue displaying strong physical demand have been the motivator of today’s higher prices.  “We do see physical demand from Asia continuing to emerge, and India partly easing restriction will also increase demand,” Steve Scacalossi, vice president at TD Securities Inc., said. “The market is looking to buy dips now.”  Gold bugs hope the first trading day since the inception of the new year will be a sign of things to come as the long shadow cast by Gold’s first annual drop since 2000 remains ever present.

Following its greatest year of gains since 1997, the S&P 500 has begun 2014 trading lower as investors expect upcoming market corrections.  “More people seem to be wary, as we are, of potential corrections as markets get overexcited,” Oliver Wallin, investment director at Octopus Investments Ltd., said. “The question is just when to time it. A lot of people are willing to continue in this rally but are nervous at the same time. We’ve got one eye on the exit but we know there is money to be made in the short term.”  Equities investors will continue to view global economic growth and monetary easing measures as the central factors influencing this year’s performance among key market indicators.

At 1:01 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,226.30, Up $21.50.
  • Silver, $20.14, Up $0.72.
  • Platinum, $1,405.10, Up $29.30.
  • Palladium, $730.90, Up $12.60.

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.

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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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