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Closing Gold & Silver Market Report – 1/30/2014


Precious Metal prices declined through afternoon trading.  A stronger U.S. dollar and rebounding equity markets continue to pressure metals. “There's a lot of concern over what's happening overseas but in the domestic (U.S.) market GDP was pretty strong.  If you see growth in the economy pointing to higher earnings growth, that will give markets more confidence in the United States,” Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors, said.

U.S. consumer confidence fell last week to its lowest level in two months.  With higher gasoline prices and volatility in equities markets, many consumers are losing confidence.  “We’re seeing the public respond to volatility in equity markets and slightly higher gasoline prices.  Given the ongoing sluggish wage environment, it’s not a shock that consumer confidence has cooled,” Joe Brusuelas, senior economist for Bloomberg LP, said.

At 6:12 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,246.30, Up $1.80.
  • Silver, $19.22, Up$0.04.
  • Platinum, $1,384.30, Up $0.00.
  • Palladium, $707.80, Down $0.10.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (ET)! Or call us Fridays until 6 p.m. (ET)! 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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