Morning Gold & Silver Market Report – 4/21/2014
Ryan Schwimmer
4/21/2014 8:00:00 AM
GOLD PRESSURED BY ETF OUTFLOWS
The Gold prices are trading at a 2-1/2 week low in morning trading amid technical selling after failing to hold the $1,300 per ounce level. ANZ analyst Victor Thianpiriya said, “One aspect is that the market is pretty thin today and liquidity is going to be constrained,” but there have also been large outflows from the SPDR Gold Trust exchange-traded fund (ETF). The ETF outflows have caused the geopolitical tensions in Ukraine to be pushed to the back of investor's minds for the moment.
U.S. stock futures are higher ahead of earnings reports from Netflix and other giants which are expected to impress investors. Last week was the S&P 500’s best weekly gain since July 2013 at 2.7 percent over four days. If economic data released continues to be positive, analysts believe we could expect more of the same from equities.
At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,290.60, Down $5.30.
- Silver, $19.45, Down $0.20.
- Platinum, $1,406.50, Down $22.20.
- Palladium, $792.40, Down $15.70.
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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
