Morning Gold & Silver Market Report – 3/31/2014

Ryan Schwimmer

3/31/2014 8:07:14 AM

GOLD FLAT, SILVER HIGHER AHEAD OF JOBS REPORT

The Gold price is relatively flat while the Silver price is trading higher in early morning trading. Gold fell around three percent last week and is headed for its first monthly decline in 2014. Standard Bank’s Walter de Wet said, “The positive news is that if the Gold price falls far enough, Asia demand will improve and should, as it did last year, provide some support on the downside.” The Silver price snapped a nine-day losing streak Friday.

U.S. Federal Reserve Chair Janet Yellen will be speaking in Chicago this morning. Daiwa Capital Markets’ Chris Scicluna wrote, “While the Fed's updated forward policy guidance is no longer centered on the unemployment rate, the monthly employment report on Friday will inevitably be closely watched for any improvement at the end of the first quarter.” Much attention will be paid to Friday’s nonfarm payrolls report, as it will deliver end-of-quarter statistics on the economy.

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

• Gold, $1,293.50, Down $2.30.
• Silver, $19.87, Up $0.04.
• Platinum, $1,419.00, Up $12.30.
• Palladium, $778.00, 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.