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Market Reports

Closing Gold & Silver Market Report – 1/23/2014


The falling U.S. dollar continued to boost Gold’s price throughout the day, as the yellow metal rose nearly two percent. Phil Streible, a broker at R.J. O’Brien & Associates, said plainly, “The dollar is helping Gold today. Physical demand has remained steady from the East,” referring to Asian countries. The Silver price rose with Gold today, while Platinum and Palladium prices dropped, even amid a strike at the world’s biggest Platinum mines.

The Dow Jones Industrial Average closed approximately 174 points lower today as Chinese manufacturing data worried equities investors. The report showed a contraction in the manufacturing sector, falling below expectations. Some, such as PNC Financial Services Group international economist Bill Adams, believe the Chinese holiday season played a part in the report, saying, “We are reluctant to read too deeply into this number. Chinese statistics, even ones as ably adjusted for seasonal variation … tend to get a little fuzzier around the Lunar New Year holiday, which falls on Jan. 31 this year.”

At 3:41 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,265.90, Up $24.80.
  • Silver, $20.05, Up $0.17.
  • Platinum, $1,459.00, Down $5.40.
  • Palladium, $745.10, Down $3.80.

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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