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Mid-Day Gold & Silver Market Report – 2/4/2014


The Gold price continued to trade lower in morning trading, while the Silver price recovered into the black. Bart Melek, head of commodity strategy at TD Securities, said, “The Gold-positive flows from the loss of risk appetite, as a result of emerging-market turmoil, provided support but it was limited and short lived. So far, institutional investors continue to stay clear, while hedge funds are only engaging on a relatively small scale on the long side.”

U.S. stocks are putting pressure on the Gold price as they rebound. Emerging market stocks are still weak, but UBS AG CEO Sergio Emotti said, “Short term, it looks a bit overdone… [T]here are excesses in terms of expectations about one asset class or the other and [when] things move in the wrong direction, you have very violent moves on the other side.”

At 1:34 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,253.80, Down $8.10.
  • Silver, $19.49, Up $0.02.
  • Platinum, $1,375.50, Down $13.10.
  • Palladium, $699.60, Down $4.10.

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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