Weekly Market Reports

Palladium Prices Break $1,500 Per Ounce

For the first time, Palladium prices rose above $1,500 per troy ounce. Australia reports this upward movement is primarily due to an ongoing supply deficit. New concerns bubbled up as reports from South Africa, a leading producer of Platinum Group Metals, indicate new challenges for the mining industry. Recent power blackouts in the country have led to widespread setbacks in the extraction of Palladium, an essential component in the manufacturing of automobile catalysts, helping reduce carbon emissions. With growing restrictions from many countries around the world, automakers have turned mostly to Palladium to help curb carbon output.

Price of Gold Reaches 10-Month High

Tuesday, the price of Gold reached its highest peak in 10 months. Overall, Gold prices have moved consistently up this year, with several areas of the economy supporting the Precious Metal this week. ConsumerAffairs reports April Comex Gold futures rose 1.4 percent Tuesday, contributing to an overall 4 percent lift for 2019. This steady movement started last year when the U.S. Federal Reserve indicated it was reconsidering plans for two more interest rate increases in the coming year. Several leaders at the Fed have reiterated a more cautious approach to monetary policy as the economy slows down. 

As the article also states, “many analysts believe the stock market is overbought.” This belief may be sending some investors into Gold, long known as a critical safe-haven investment. Due to weakness in the bond market, other buyers have shown growing interest in Gold as well. Uncertainty about Britain’s Brexit deal is another contributor to a new-found interest in low-risk assets.


WGC Warns Cryptos ‘Not a Substitute’ for Gold

According to a recent report, the World Gold Council (WGC) warns cryptocurrencies such as Bitcoin are “no substitute for Gold.” In a Coindesk article published on Yahoo! News, the WGC, a leading market development organization for the Gold industry, points out some differences between cryptocurrencies and Precious Metal.  They point out that Gold has less price volatility, more accessible supply and better oversight from regulators. The trading volumes for Bitcoin are low, averaging $2 billion per day, relative to Gold averaging daily trades of nearly $250 billion.

At 10:20 a.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,345.70 Up $1.30
  • Silver, $16.14 Up $0.07
  • Platinum, $832.00 Up $9.00
  • Palladium, $1,492.90 Up $7.40

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (ET)! Or call us Fridays until 6 p.m. (ET)! If you have any questions about Precious Metals investing or simply would prefer to place your order by telephone, we are here to help.

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World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

NYMEX Markets
8:20 a.m.-1:30 p.m. (ET)
8:25 a.m.-1:25 p.m. (ET)
8:20 a.m.-1:05 p.m. (ET)
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)

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.

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