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Market Reports

Closing Gold & Silver Market Report – 4/1/2014


The Gold price continues to come under pressure as an ongoing rally in equities has forced the yellow metal down slightly today.  As tensions ease in Ukraine and the S&P 500 reaches another all-time high, little was able to halt Gold from settling near its lowest price in seven weeks.  Though it appears the short-term appeal of Gold has softened among exchange-traded investors, price pullbacks have historically created strong buying among long-term bullion buyers.  Gold remains up over eight percent year-to-date and will look for fresh motivators to drive the price higher in the coming weeks.

The S&P 500 was able to breach a new record level today as uplifting manufacturing figures and resilience during an epic winter boosted optimism regarding the U.S. economy.  “As we head into April and new highs potentially on the horizon, it is looking like the bulls once again are taking control,” Ryan Detrick, senior technical strategist at Schaeffer’s Investment, said.  As stocks and Gold settle into a more traditional correlation, employment figures and Federal Reserve policy will remain the central factors influencing Precious Metals and equities markets in the near future. 

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

  • Gold, $1,280.80, Down $4.50.
  • Silver, $19.78, Down $0.01.
  • Platinum, $1,425.10, Up $4.30.
  • Palladium, $780.60, Up $3.50.
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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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