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Morning Gold & Silver Market Report – 1/10/2014


Gold and Silver prices surged after the release of the monthly jobs report, which showed that the economy added 74,000 jobs in December. Economists expected an increase of 193,000, so the number missed the mark by a large margin; however, the unemployment rate fell to 6.7 percent. That figure may be skewed by the number of people dropping out of the labor force altogether. Gold rose by 1 percent and Silver rose by nearly 2 percent on the news, while U.S. stock futures and the U.S. dollar turned sharply lower.

Gold investors looked to the jobs report as a gauge of the health of the U.S. economy, specifically regarding the pace of the U.S. Federal Reserve’s tapering of quantitative easing. Natixis analyst Bernard Dahdah said, “It will take a few more months of good figures in terms of U.S. employment data to see the Fed accelerating the pace of tapering.” After the disappointing report, some investors will now wonder if that could be in jeopardy.

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

  • Gold, $1,242.50, Up $10.60.
  • Silver, $20.14, Up $0.41.
  • Platinum, $1,428.80, Up $6.90.
  • Palladium, $737.40, Up $0.90.

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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