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Market Reports

Mid-Day Gold & Silver Market Report – 4/4/2014


Gold and Silver were both up prior to this morning’s jobs report and they have continued upward through morning trading.The slight miss on the downside for jobs growth in March falls into the camp of the U.S. monetary policy doves,” Jim Wyckoff, senior precious metals analysts, said. “That’s a bullish underlying factor for the precious metals. The February non-farm payrolls figure was upwardly revised by a modest amount, and that somewhat mitigated the slight miss on the March payrolls number.” Wyckoff also noted that if Gold closes Friday above $1,300 this will be a bullish sign for Gold.

The U.S. stock market began the day with a lift following the jobs report release, but have since given up gains and retreated to the red. Technology and consumer stocks have climbed to record highs and traders appear nervous at these levels especially with the weekend approaching. “When you’re at record high levels, people start to get a little tentative going into weekends,” Randy Frederick, managing director of trading and derivatives at Charles Schwab Corp., said. “Taking a few profits off the table going into the weekend is probably not a bad strategy.”

At 1:02 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,306.40, Up $20,30.
  • Silver, $20.10, Up $0.25.
  • Platinum, $1,450.30, Up $4.80.
  • Palladium, $790.70, Up $1.10.

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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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