hp-free-shipping-truck Free Shipping On Orders Over $99

Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/23/2014

GOLD HOLDS AS NEW HOMES SALES PLUNGE IN MARCH

Gold and Silver prices found unexpected support when new homes sales for March came in much lower than expected, falling 14.5 percent to an adjusted annual rate of 384,000. “Up until today’s report, new-home sales had been reasonably stable for six months following a soft patch last summer,” Joshua Shapiro, chief U.S. economist for MFR, said. “Mortgage applications for home purchase remain lower, suggesting that higher interest rates and earlier price increases are having an impact on individual demand for homes.” Neil Dutta, head of U.S. economics at Renaissance Macro Research, wrote, “The spring selling season will not meet elevated builder expectations. Purchase applications and real estate loans have generally been better over recent weeks so sales will likely pick-up in coming months. But, most of the data points to a slow grind up than a big surge.”

The dismal new homes sales were not as kind to the U.S. stock market, as stocks broke their six day streak and were down for the day. The U.S. dollar also fell against major currencies. “The U.S. recovery remains in fits and starts," Peter Boockvar, chief market analyst at the Lindsey Group, emailed after the Commerce Department reported the worst new-home sales month since July. According to Stephen Carl, head equity trader at Williams Capital Group, “The market is — I don't want to say bracing — but waiting for something to develop one way or the other."

At 5:15 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,285.70, Up $2.60.
  • Silver, $19.50, Up $0.09.
  • Platinum, $1,405.30, Up $5.00.
  • Palladium, $787.60, Up $3.00.
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.

« Return to Commentaries

World Market Trading Hours

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.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20 a.m.-1:30 p.m. (ET)
Monday-Friday
8:25 a.m.-1:25 p.m. (ET)
Monday-Friday
8:20 a.m.-1:05 p.m. (ET)
Monday-Friday
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)

Disclaimer:
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.

Items In Cart


There are no items in the cart.

AURIC