Closing Gold & Silver Market Report 4/16/2012


A market sentiment survey conducted by CNBC shows U.S. crude oil futures should be stable this week, unless Iran’s nuclear program becomes a worry in the headlines again. “If tensions with Iran cool somewhat, I would anticipate the focus shifting to the improving supply/demand balance, and we could see a strong move to the downside over the next several weeks,” said Kirk Howell, chief operating officer of SunGard’s energy and commodities business, SunGard Kiodex. Oil and Gold historically share a positive correlation.

It looks as if the next domino in the eurozone debt crisis will be Spain. That country is the fourth largest in the eurozone, and the economy is currently struggling with a conservative government. The yields on Spanish 10-year bonds are now more than 6.1 percent; when Italian bonds were at this same level last year, it alarmed the market. Rabobank strategist Lyn Graham-Taylor said, “We are back in full crisis mode.”

As mentioned in the Mid-Day Gold & Silver Market Report, the World Bank has selected its next president. Dartmouth College President Jim Yong Kim is the new president of the World Bank, in which he will be the first physician and Asian-American ever to lead this powerful organization.

At 4 p.m. (CDT), the APMEX precious metals spot prices were:

  • Gold – $1,653.30 – Down $7.40.
  • Silver - $31.54 – Up $0.09.
  • Platinum - $1,577.10 – Down $9.80.
  • Palladium - $654.80 – Up $6.50.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays, and until 5 p.m. (CDT) on Fridays! If you have any questions about investing in precious metals or would simply prefer to place your order by telephone, we are here to help.

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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
4/24/2014 11:50:19 PM EST

Metal Bid Ask Change
Gold $1,291.80 $1,293.80 $1.20
Silver $19.50 $19.60 ($0.15)
Platinum $1,403.40 $1,413.40 $3.80
Palladium $797.50 $802.50 ($0.80)
4/24/2014 11:50:19 PM EST

Click here for Historical Charts*All Charts are in USD

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