Spot prices

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Monday, August 5, 2013

The precious complex is mixed but relatively unchanged from last week’s closing levels as we begin ..

The precious complex is mixed but relatively unchanged from last week’s closing levels as we begin the week. Unemployment claims, GDP and PMI figures reported throughout last week seemingly point to an improving situation on the domestic economic front but unemployment remains a thorn in the side of monetary policy makers. Non-Farm payrolls missed estimates by a pretty wide margin and although the unemployment rate fell to 7.4%, some of that decline was attributed to people dropping out of the job market. Gold was pushed back above the $1300 mark on the release of Friday’s jobs data and held to a close of $1310.40. The yellow metal is off slightly from that number, now trading $1307.60. Silver made a push back toward the $20.00 mark but fell just shy with a high of $19.950 in the overnight hours. Silver now trades $19.700 after closing Friday at $19.845. Platinum is roughly $3 lower from Friday’s clos and now trades $1447 while palladium is the lone metal in positive territory, now trading $731.75. Have a great day!

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