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Morning Gold & Silver Market Report – 5/1/2014


Gold and Silver prices fell in early-morning trading, a day after the Federal Reserve announced that it would continue tapering its quantitative easing program by another $10 billion. That announcement came even after a disappointing gross domestic product (GDP) report showed that the economy did not improve as much as expected. Natixis analyst Nic Brown said, “The Fed has looked completely though this Q1 GDP number and has said, 'the economy's still improving, we're going to carry on tapering. We're probably at that part of the (economic) cycle when investors are more interested in exciting growth opportunities than worrying about the next fiscal crisis.”

U.S. stock futures fell this morning after the weekly jobless claims report missed the mark. Though claims were expected to fall by 10,000, the report showed a gain of 14,000 from the prior week. With the disappointing GDP number yesterday, many are looking forward to tomorrow’s nonfarm payrolls report from the Labor Department for more direction.

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,282.50, Down $15.40.
  • Silver, $18.96, Down $0.25.
  • Platinum, $1,414.00, Down $13.90.
  • Palladium, $815.00, Up $1.50.

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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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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