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Mid-Day Gold & Silver Market Report – 1/27/2014


The possibility of further tapering of quantitative easing continues to dominate the headlines today.  The Gold price has erased earlier losses to trade flat.  ‘Flat’ may well be the name of the game for Gold, according to Tyler Richey, an analyst for the 7:00’s report.  Richey said, “Gold has seen a substantial rally in recent sessions, breaking through several technical resistance levels, but we expect that the precious metals market will largely tread water until the [Federal Open Market Committee] announcement Wednesday.”

Many economists, including Rockwell Global Capital’s chief market economist Peter Cardillo, believe that 1,775 is a key level to watch for the S&P 500.  If the index falls below that level, equities could see a pullback.  Corrections, like the one last week for equities, are hardly a rare occurrence.  The most recent correction can be seen as a reminder that Gold is not the only investment heavily affected by quantitative easing.

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

  • Gold, $1,267.00, Up $0.20.
  • Silver, $19.89, Up $0.08.
  • Platinum, $1,422.00, Down $8.60.
  • Palladium, $723.40, Down $11.40.
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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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