Morning Gold & Silver Market Report – 8/13/2014

Ryan Schwimmer

8/13/2014 8:15:42 AM

GOLD HIGHER AS ‘EURO IN DIRE STRAITS’

Gold and Silver prices and U.S. stock futures are higher in early-morning trading. Saxo Bank senior manager Ole Hansen said of Gold, “It seems that the $1,308-9 [per ounce] level has become a bit of a magnet to the market as it is not any clearer what the focus should be at the moment. The geopolitical tensions do have their moments of impact but they just don't last too long … the euro is in dire straits from an inflation point of view, Germany is slowing, Italy is in recession and that could be where we are getting the inspiration today.”

Anticipation of a recovery in China in the fourth quarter of this year boosted stock futures “despite the fact that the geopolitical situation remains tense and there’s still the prospect of a dangerous stand-off at the Ukrainian border when [an] aid convoy arrives from Moscow,” according to Joao Monteiro of Valutrades. The major indexes are all trading higher despite some heavy losses for certain companies.

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

• Gold, $1,314.40, Up $3.90.
• Silver, $20.06, Up $0.12.
• Platinum, $1,474.30, Up $2.10.
• Palladium, $881.70, Up $2.70.

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.