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Market Reports

Mid-Day Gold & Silver Market Report – 5/29/2014


There were two big news stories this morning. One was not so good and the other positive, yet both the Precious Metals and equity markets reacted to the upside. The U.S. GDP contracted for the first time in three years during the first quarter of 2014. The revised report came out today. Most analysts expected a revision of positive 0.1 percent to negative 0.5 percent GDP growth.  The actual number was a disappointing negative 1.0 percent. This is the worst performance since the first quarter of 2011. The good news is that the jobs report fell 27,000 to 300,000.

One factor suppressing Gold prices is the perception that things are calming down in the Ukraine. This perception appears somewhat at odds with what is actually happening on the ground. This week alone 50 separatists were killed and today Ukraine separatists shot down an army helicopter killing 14 soldiers. This is one of the heaviest losses experienced by the Ukraine Army since fighting began. It was also revealed that some of those killed were not from the Ukraine, but were volunteers from Russia.

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

  • Gold, $1,258.10, Down $3.60.
  • Silver, $19.07, Down $0.05.
  • Platinum, $1,461.00, Down $2.70.
  • Palladium, $834.50, Down $6.30.
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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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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