Mid-Day Gold & Silver Market Report – 4/23/2014
Ryan Schwimmer
4/23/2014 12:07:37 PM
GOLD FLOATS ABOVE 2-1/2 MONTH LOW
Precious Metals prices were little-changed in early-morning trading, as the Gold price floated above a 2-1/2 month low. “We continue to watch Gold between the $1,275 (per ounce) and $1,280 (per ounce) level where key support is still apparent,” Ed Meir, metals analyst at INTL FCStone, said. The U.S. dollar and equities eased, making way for Gold’s advance.
Earnings reports and a disappointing home sales report are the likely culprits for the decline in stocks. Stephen Carl, head equity trader at Williams Capital Group, said, “The market is -- I don't want to say bracing -- but waiting for something to develop one way or the other.” Peter Boockvar, chief market analyst at the Lindsey Group, added, “The U.S. recovery remains in fits and starts.”
At 1 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,285.30, Up $2.20.
- Silver, $19.47, Up $0.06.
- Platinum, $1,404.00, Up $3.70.
- Palladium, $787.00, Up $2.30.
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
