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Market Reports

Morning Gold & Silver Market Report – 7/24/2014


Strong data out of China and the eurozone pressured Gold below the $1,300 per ounce level in early-morning trading. Physical demand for Gold in China increased after the price fell, though is still considered weak when compared to earlier this year. Natixis analyst Bernard Dahdah said, “The market is going to follow very closely any comments from the Federal Reserve about interest rates as that is likely to continue having an impact on Gold's trading pattern.”

U.S. jobless claims fell to their lowest level in eight years, according to data released by the Labor Department this morning. The figure of 284,000 is much lower than the expected 310,000. The four-week moving average fell to its lowest level since May 2007. U.S. stock futures increased, pointing toward a higher open for Wall Street. The Dow Jones Industrial Average held above 17,000, and the S&P 500 index closed in on 2,000.

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

  • Gold, $1,299.90, Down $5.70.
  • Silver, $20.91, Down $0.09.
  • Platinum, $1,475.60, Down $11.80.
  • Palladium, $872.70, Down $2.60.

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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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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