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Mid-Day Gold & Silver Market Report – 6/27/2014


Gold prices are showing modest gains, while Silver is slightly down. It appears Gold is headed for another weekly gain, despite last week’s sharp upswing and strong indication of consolidation. Gold has been “digesting the big gains” made after Federal Reserve Chief Janet Yellen’s “dovish” comments last Thursday,” Vedant Mimani, lead portfolio manager of the Atyant Capital Global Opportunities Fund, said. The stock market is mixed with the DOW down and the NASDAQ up.

Gold has been doing well as of late, but somewhat unnoticed, Silver is actually doing better than Gold. In some analysts’ views, Silver has not topped out yet. Silver has experienced double digit percentage gains this month compared to Gold at six percent. “The real value of silver is far from being realized,” Andrew Chanin, chief executive officer of PureFunds, said. Silver’s price point would indicate that Silver supply is more readily available than Gold, but this might not actually be the case. Silver also stands to benefit more in an improving economy. Generally, 57 percent of yearly Silver demand is industrial. If investment demand continues to increase in conjunction with industrial demand it could put a squeeze on Silver supplies.

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

  • Gold, $1,320.00, Up $1.00.
  • Silver, $21.12, Down $0.05.
  • Platinum, $1,480.70, Up $8.40.
  • Palladium, $841.70, Up $5.90.

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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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