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Morning Gold & Silver Market Report – 7/15/2014


Precious Metals prices are trading higher through the early morning a day after the largest decline in a single-session for Gold this year.  As traders await data on U.S. retail sales being released this morning, Federal Reserve Chairwomen Janet Yellen’s testimony to Congress about the economy and monetary policy over the next two days will be highly watched.  Kathy Lien, managing director of FX strategy for BK Asset Management said, “Yellen's semi-annual testimony on Capitol Hill is the most highly anticipated event risk this week. In the most ideal scenario traders are hoping for two outcomes - an increase in volatility that widens ranges for currencies and clarification on when the central bank will raise interest rates.”

U.S. stocks gained some momentum this morning after earnings reports from a few major companies showed better than expected returns.  However, even with today’s gain there is not much evidence showing everyday consumers are ready to spend at a faster more sustained pace. With the recent announcement of the Federal Reserve plans to end its bond buying program in October, Joao Monteiro, analyst at Valutrades said “[growth in retail sales will be,] instrumental if the Fed intends to maintain its hawkish stance.”

At 9:29 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,309.90, Up $2.20.
  • Silver, $20.99, Up $0.08.
  • Platinum, $1,501.40, Up $7.40.
  • Palladium, $870.00, Up $2.00.
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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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