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Mid-Day Gold & Silver Market Report – 3/20/2014


Gold and Silver are down for the fourth straight session as the market continues to react to the Federal Reserve’s commitment to continued asset purchase reduction.  With the ongoing taper of monetary stimulus measures, Fed Chairwoman Janet Yellen also indicated a time frame of “around six months” before the Fed will begin raising interest rates.  “Dealers and speculators were moving prices down on their gut feel for the impact on markets of the [Yellen’s] statement,” Julian Phillips, founder of, said.  Phillips added the short-term movement of Gold, in regards to traditional supply-demand, will eventually force the price higher.  

U.S. stocks rallied today as a decline in unemployment numbers coupled with strong manufacturing data overshadowed comments made by Yellen following the conclusion of the Fed’s monthly summit.  “The market has digested and even discounted a bit what Yellen said, and put things into perspective,” Stephen Carl, principal and head equity trader at New York-based Williams Capital Group LP, said.  “We have to see how the economy continues to move along. People are back focusing on signs of economic growth.” 

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

  • Gold, $1,327.70, Down $10.30.
  • Silver, $20.35, Down $0.41.
  • Platinum, $1,441.00, Down $16.50.
  • Palladium, $749.50, Up $2.90.
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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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