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Morning Gold & Silver Market Report – 3/16/2012

CONSUMER PRICES FLAT; SYRIAN BLOODSHED CONTINUES; N. KOREA PLANS ROCKET LAUNCH  

Precious metals prices moved lower in overnight trading, and remained so after the latest consumer price index (CPI) report was released. Forecasters expected the CPI would rise about 0.5 percent, and the number came in at 0.4 percent. Core CPI (which strips out food and energy costs) rose just 0.1 percent. U.S. stock futures added to gains after the release. Much of the movement in the Gold price lately has been a result of the Federal Reserve meeting this past Tuesday.

Geopolitical tension remains a key concern around the world. In Syria, 45 more residents were killed as government forces pressed an offensive that also drove more than 1,000 refugees into Turkey. North Korea announced it will launch a rocket carrying a satellite next month, raising concerns from the United States and other nations. U.S. Secretary of State Hillary Clinton said she believes such a launch would breach a U.N. resolution. Experts suggested this launch will be another long-range missile test, which the country claimed it would halt as part of ongoing talks with the U.S.

An CNBC article is asking this question: “Who is doing all the buying in the stock market?” The author points out that metrics used to gauge behavior by investors point toward money leaving the market, with those involved unsure of what the future holds. Charles Biderman, chief executive at TrimTabs, said, “Demographics and poor longer-term stock market returns probably play a role (in investor caution). But we also think that all the volatility and central bank interventions in financial markets are leading more investors to question how stable the financial system really is.” One investment that historically has played a role of stability in an otherwise-unstable financial market is Gold, and it also has performed well when central banks intervene in the market.

At 8 a.m. (CDT), the APMEX precious metals spot prices were:

  • Gold - $1,647.50 – Down $13.50.
  • Silver - $32.46 – Down $0.31.
  • Platinum - $1,672.90 – Down $12.00.
  • Palladium - $701.00 – Down $8.90.

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Disclaimer:
APMEX’s ‘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, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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