Mid-Day Gold & Silver Market Report – 5/2/2014
Ryan Schwimmer
5/2/2014 1:20:09 PM
U.N. HOLDS EMERGENCY MEETING ON UKRAINE
Gold and Silver prices shot higher in morning trading on increased tensions in Ukraine. Thomas Capalbo of Newedge said, “Going into the long weekend with London out on Monday, there was short-covering and good physical buying after a knee-jerk selloff earlier after the job data.” Gold rose more than one percent, while Silver rose nearly three percent.
The U.N. Security Council is in the middle of an emergency meeting, called this morning after Ukrainian helicopters were shot down by Pro-Russian rebels. Ukraine had attacked a separatist-held region, and Russian President Vladimir Putin condemned the attack. The U.S. jobs report released early this morning took a back seat to these geopolitical tensions, and U.S. stocks fell on the news.
At 1 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,303.50, Up $18.10.
- Silver, $19.60, Up $0.51.
- Platinum, $1,440.80, Up $13.30.
- Palladium, $813.80, Down $1.40.
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
