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Morning Gold & Silver Market Report – 5/13/2014

PRECIOUS METALS UP AS DATA DISAPPOINTS

Precious Metals prices are relatively flat through early morning trading after yesterday’s gains.  The standoff situation in Ukraine, reports that the German central bank will consider monetary easing measures, and disappointing U.S. retail sales data have provided a boost for Gold.  Peter Fertig, a consultant at Quantitative Commodity Research, said, “(A break out of that range) would only be caused by an escalation between the West and Russian that would send stock markets down and investors out of risky assets and into safe havens, (such as) government bonds and gold.”

After benchmark indexes climbed to record highs yesterday, U.S. stock futures had very little movement.  Data released showed slow growth in the retail sector which failed to meet expectations but some investors believe markets will pick up.  “We’re still in a nascent recovery,” Chad Morganlander, fund manager at Stifel Nicolaus & Co., said, “We do believe there will continue to be an underlying improvement in economic trends over the course of this year. There are other economic numbers that trump this report -- it’s not a game-changer.”

At 10:23 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,297.10, Down $0.70.
  • Silver, $19.58, Down $0.02.
  • Platinum, $1,457.40, Up $15.50.
  • Palladium, $817.80, Up $7.90.

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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.

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