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Morning Gold & Silver Market Report – 2/13/2014


Gold is mostly flat in morning trading, holding near a three-month high after economic reports disappointed. Retail sales, expected to drop a mere 0.1 percent, dropped 0.4 percent in January, while last week’s jobless claims totals were about 9,000 higher than expected. A Hong Kong-based Precious Metals trader told Reuters, “There doesn't seem to be any logic with Gold going up when stocks and U.S. Treasury yields are higher. But, I think there is enough technical momentum to carry prices above $1,300 [per ounce] today when New York opens. There is room up to the $1,310-$1,315 [per ounce] area.”

U.S. stocks are expected to open lower after the disappointing economic data released this morning. Federal Reserve Chairwoman Janet Yellen’s testimony to the Senate Banking Committee has been postponed due to weather in the Washington, D.C. area. Many analysts are expecting a relatively slow day with no testimony from Yellen, so the focus is on the aforementioned disappointing reports.

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

  • Gold, $1,295.30, Down $1.70.
  • Silver, $20.29, Down $0.11.
  • Platinum, $1,399.60, Down $9.70.
  • Palladium, $726.00, Down $4.00.

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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