Mid-Day Gold & Silver Market Report – 4/12/2012

EXPERTS KEEP SPAIN IN CROSSHAIRS; FED REPORT POSITIVE  

Gold has taken over the top spot in price per ounce over Platinum, and many factors are contributing to that. Past events have led to this hierarchy, but those events were  temporary. It’s possible this is a new normal for the relationship between Gold and Platinum, as it has been this way for 145 of 172 trading days now. One driving factor is that central banks have been stockpiling Gold reserves.

The economic issues in Spain continue to worry experts. With a growing budget deficit and a 23 percent unemployment rate, the outlook is grim. But there are hopes for recovery. Spain’s prime minister has a plan to reduce debt and shore up the banks. There have been positive signals. Deutsche Bank economist Gilles Moec said, “We've seen more progress in a few days than in four months.”

The Federal Reserve released its “Beige Book” summary with positive news about the U.S. economy. The auto industry sales and growing manufacturing of tech goods are the main reasons for the upswing. The news was not all positive, however. A large portion of the report focused on high gasoline prices and effects on industry. “This confirms that it’s a strengthening economy, and that takes pressure off the Fed,” economist Eduardo Martinez said. This is the first positive Beige Book seen in a year’s time.

At 12:14 p.m. (CDT), the APMEX precious metals spot prices were:

  • Gold – $1,679.80 – Up $19.00.
  • Silver - $32.56 – Up $0.98.
  • Platinum - $1,606.00 – Up $22.70.
  • Palladium - $654.60 – Up $17.10.
APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 7 p.m. (CDT)! Or call us Fridays until 5 p.m. (CDT)! 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.

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Disclaimer:

APMEX’s ‘News and Commentaries’ 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.

US Dollar Prices are in USD

Precious Metal Prices
4/21/2014 3:11:30 AM EST

Metal Bid Ask Change
Gold $1,286.80 $1,288.80 ($7.10)
Silver $19.26 $19.36 ($0.29)
Platinum $1,402.30 $1,412.30 ($16.40)
Palladium $789.70 $794.70 ($13.40)
4/21/2014 3:11:30 AM EST

Click here for Historical Charts*All Charts are in USD


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