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Market Reports

Mid-Day Gold & Silver Market Report – 4/24/2014


Early morning trading saw Gold and Silver prices dive lower especially once technical trading kicked in. Well, the computers do not always get it right and metal prices are back in positive territory. Gold prices spiked on news coming out of Ukraine which indicate tensions are escalating. Reports of the Russian military planning exercises on the Ukraine border sent equity markets lower and safe haven assets like Gold up. “Traders are taking this threat very seriously and we having seen a hasty change in sentiment on our end,” Naeem Aslam, chief market analyst at AvaTrade, said. “If Russia does follow its plan, then we will anticipate a further sharp selloff across the board for the equity markets and groundbreaking earnings reports from Apple and Facebook may not be able to pull the markets up.”

A group of currency experts who spoke with CNBC about the future of money have the opinion that 25 years from now the U.S. dollar will still be the world’s reserve currency. Now, that doesn’t mean that the state of money will not change over the next 25 years. However, as long as Gold, oil and guns are still priced in terms of the U.S. dollar, we are unlikely to see a change. It is notable that the United States makes two-thirds of these sales. In the end, it is all about trust and the United States has a longer track record than the European Central Bank and the Chinese have yet to demonstrate enough transparency.

At 1:00 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,291.60, Up $5.00.
  • Silver, $19.70, Up $0.21.
  • Platinum, $1,410.70, Up $6.80.
  • Palladium, $803.50, Up $16.40.
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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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