Morning Gold & Silver Market Report – 6/13/2014
Ryan Schwimmer
6/13/2014 8:11:20 AM
INVESTORS WORRY ABOUT IRAQ
Gold and Silver prices are relatively flat in morning trading. Gold’s safe haven appeal could receive a boost if violence in Iraq escalates, and the U.S. government has said it will not rule out air strikes to assist the Iraqi government. Platinum and Palladium are trading in the red after a major dip yesterday caused by a looming deal to end the five-month mine strike in South Africa. Saxo Bank senior manager Ole Hansen said, “If we see the workers agree to the wage deal there could be some additional weakness but it still leaves a market where supply has been disrupted for several months.”
U.S. stock futures are slightly lower in premarket trade, with investors cautious at recent developments. IG market analyst Alastair McCaig said, “This certainly isn’t the time for an all-out move into equities, but already some cautious buying in selected names is being seen, as some begin to bet that this is the latest dip that will offer a sensible entry point. Corrections don't come when everyone is looking for them — they appear at unexpected moments.”
At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,275.00, Down $1.00.
- Silver, $19.60, Up $0.01.
- Platinum, $1,438.60, Down $3.70.
- Palladium, $814.60, Down $4.80.
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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
