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Closing Gold & Silver Market Report – 4/9/2014


The Gold price moved into positive territory while the stock market spiked following the release of the minutes from the March Federal Open Market Committee (FOMC) meeting. "All the [U.S. Federal Reserve] knows right now is they are going to taper unless something massive happens in a negative way. This is a very accommodative Fed; Taper was accommodative plus, plus, now it's accommodative plus. We're not even near the territory of actual tightening," Zachary Karabell, head of global strategy at Envestnet, said. Silver prices rebounded slightly, but are still down for the day.

The U.S. dollar did not fare so well after the FOMC meeting, as the Fed’s accommodative tone extended the dollar’s loss versus the euro. There was much speculation that higher rates would appear in 2015, but for now those fears have diminished. The minutes showed the Fed feared the market could overreact to an upward shift in expectations. They also did away with the benchmark of 6.5 percent unemployment as a sign of recovery. The market reaction indicates that investors believe the Fed will keep interest rates lower for longer.

At 4:00 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,314.30, Up $3.20.
  • Silver, $19.90, Down $0.21.
  • Platinum, $1,442.80, Up $1.10.
  • Palladium, $783.90, Up $7.00.

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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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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