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Market Reports

Morning Gold & Silver Market Report – 2/5/2014


The safe-haven appeal of Gold has lured investors away from the stock market in early morning trading. Gold has risen beyond the previous high of $1,268 per ounce that some analysts, including Marshall Gittler at IronFX, believe is a key to show upward momentum for the yellow metal. Gittler wrote that breaking past this level “may turn the picture positive again.” With $1,235 per ounce being the support at recent levels, Gittler believes that “both momentum studies lie near their neutral levels, confirming investors’ reluctance to choose the next trending direction of the metal.”

U.S. stock futures are pointing toward a lower open for Wall Street. The Automatic Data Processing employment report released Tuesday showed 175,000 jobs created during the month of January, below the estimate of 180,000. Bank of Tokyo Mitsubishi’s Derek Halpenny wrote, “The tone of U.S. economic data has been on the weak side through most of the year-to-date and hence the markets will be better positioned today for disappointment. We maintain that the weakness is temporary and more weather-related than anything. The prospects for stronger more sustainable growth remain good.”

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

  • Gold, $1,268.20, Up $15.00.
  • Silver, $20.07, Up $0.59.
  • Platinum, $1,387.70, Up $12.30.
  • Palladium, $716.50, Up $15.30.

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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