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Mid-Day Gold & Silver Market Report – 3/10/2014


The Gold price is up slightly today as weak growth data from China helped lift the yellow metal from morning lows.  Gold has recently benefited as a safe-haven from a variety of domestic and global economic and political concerns.  “Extreme weather, drought, the Ukrainian crisis and cheap valuation have propelled the precious metals and the other commodities prices higher,” a Sharps-Pixley analyst said in explaining the allure of gold so far in 2014. “Gold’s safe-haven status has been reinforced, while the fabrication demand for gold has continued to be strong in the East.”  With the Federal Reserve’s monetary policy doing less to impact Precious Metals prices than in recent years, traditional fundamentals are beginning to, once again, influence markets. 

The S&P 500 has slipped from its record high as sluggish export numbers from China raised worries about the pace of global growth.  “Chinese numbers gave the market an excuse to sell off,” Bruce Bittles, chief investment strategist at RW Baird & Co., said.  “The markets did well last week considering the news backdrop was potentially threatening with the Ukraine and weak economic numbers, obviously not including the labor report.” Improvements in employment numbers and manufacturing data have helped lift the benchmark index in recent sessions.  However, slow growth and volatility in Ukraine have left some equities investors sidelined. 

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

  • Gold, $1,342.70, Up $2.50.
  • Silver, $20.91, Down $0.05.
  • Platinum, $1,480.70, Down $4.90.
  • Palladium, $775.00, Down $6.80.

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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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