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Market Reports

Morning Gold & Silver Market Report – 1/29/2014


Precious Metals prices are adding to gains in early morning trading amid a volatile equities market. Saxo Bank’s head of research Ole Hansen said, “At the moment we're seeing quite a bit of churn in the S&P (500 stock index) ahead of the open – we're now down on the day after being up earlier. That may be what's just lending support (to Gold) at the moment.” The focus of the day is clearly on the end of the Federal Reserve’s two-day policy meeting, with an announcement expected this afternoon regarding the future of quantitative easing.

One economist, Bank of America Merrill Lynch’s Michael Hanson, believes the Fed will begin to distance itself from earlier statements regarding the importance of the unemployment rate. The central bank had said previously that low interest rates were here to stay “well past the time that the unemployment rate declines below 6.5 percent.” However, Hanson said, “There is a pretty good chance [the Fed could] drop the 6.5 percent threshold and replace it with some discussion of broad labor market indicators.”

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

  • Gold, $1,269.20, Up $16.40.
  • Silver, $19.95, Up $0.40.
  • Platinum, $1,419.90, Up $9.00.
  • Palladium, $720.10, Up $2.60.

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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