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Mid-Day Gold & Silver Market Report – 7/3/2014


The Gold price has recovered past its pre-data level from earlier this morning. According to Chintan Karnani, chief market analyst at Insignia Consultants, the data “suggest that interest rate in USA will be hiked sooner than markets expected. The rise in exports and lowering of trade deficit is an indication of sustained long-term growth. U.S. companies have adapted to the needs to global exports and are now off shoring less work to other nations.” Karnani added, “However, geopolitical risk can prevent a severe crash in bullion prices.”

U.S. stocks rose, and the Dow Jones Industrial Average eclipsed 17,000 for the first time. Speaking on the labor and trade deficit data, JJ Kinahan of TD Ameritrade said, “It was a very good report … The bond market is saying, the economy is healthier than people are giving it credit for.” The 10-year Treasury rose five basis points at its highest this morning.

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

  • Gold, $1,322.20, Down $10.70.
  • Silver, $21.17, Down $0.13.
  • Platinum, $1,506.50, Down $6.00.
  • Palladium, $861.60, Up $4.30.

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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World Market Trading Hours

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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