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Morning Gold & Silver Market Report – 3/6/2014


Gold and Silver prices dipped on slightly upbeat jobless claims data. The U.S. Labor Department’s report showed new claims for unemployment benefits fell by 26,000 last week, with the expectation among economists being a drop of 14,000. However, the four-week moving average, often seen as a better gauge of unemployment trends, was little-changed. Continuing claims, or the number of people already receiving benefits, was also little-changed.

With increasing efforts to resolve the situation in Ukraine, an increased focus will be placed on U.S. economic data. Macquarie analyst Matthew Turner said, “Absent new developments in Ukraine, the focus in the Gold market is shifting back to the health of the U.S. economy. How much of the slowdown has been due to the weather rather than underlying weakness, and what does the [U.S. Federal Reserve] plan to do about it? Friday's nonfarm payrolls might give us some clues, though recently it has just raised more questions.”

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

  • Gold, $1,344.00, Up $1.70.
  • Silver, $21.32, Up $0.03.
  • Platinum, $1,488.10, Up $9.50.
  • Palladium, $784.00, Up $11.20.

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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