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Morning Gold & Silver Market Report – 5/15/2014


Gold slipped below $1,300 per ounce this morning as falling jobless claims and a firmer U.S. dollar offset support from the Platinum mine strike in South Africa. Societe Generale analyst Robin Bhar said, “Gold's strength is capped by a stronger dollar and better U.S. data. What is going on in Platinum and Palladium does have an impact on Gold at certain times like this when there are no strong drivers.” The strike is now South Africa’s longest and costliest.

New jobless claims hit their lowest level in seven years, falling to 297,000, much lower than the estimated 321,000. The four-week moving average, which is typically a better gauge of trends as it strips out the week-to-week volatility, fell by 2,000. Continuing jobless claims decreased by 9,000.

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

  • Gold, $1,297.40, Down $10.50.
  • Silver, $19.63, Down $0.20.
  • Platinum, $1,472.10, Down $13.60.
  • Palladium, $820.10, Down $9.70.

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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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