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Closing Gold & Silver Market Report – 2/12/2014


Gold’s rally continues in 2014 as the yellow metal is on its way to reaching a three-month high.  The metal’s safe haven appeal remains in place after yesterday’s confirmation from Federal Reserve Chairman Janet Yellen that the U.S. economy has not reached its growth potential and that further stimulus cuts would be made in steps.  “[Federal Reserve of St. Louis President James] Bullard and Yellen made it clear that the Fed is not in a hurry to end stimulus,” Adam Klopfenstein, a senior market strategist at Archer Financial Services in Chicago, said in a telephone interview. “Continued injection of easy money into the system is helping Gold.”  Silver is currently experiencing its longest run of gains since 2011, with an increase for futures delivery of 0.9 percent in March. 

The U.S. Congress was able to approve legislation today to increase the statutory debt limit ahead of the February 27 deadline.  If the U.S. debt limit had not been increased in time, the nation could default on its financial obligations, causing government programs to shut down.  Financial markets and investors are satisfied with the results, as it was expected that Congress may wait until the last minute to reach a deal. 

At 5:15 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,293.60, Up $1.80.
  • Silver, $20.28, Up $0.07.
  • Platinum, $1,408.30, Up $18.50.
  • Palladium, $728.40, Up $11.10.

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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