Mid–Day Gold & Silver Market Report – April 20, 2012

WILL ECONOMY RELAPSE IN SPRING?   

Some of the same factors that interrupted the economic recovery in 2010 and 2011 are beginning to fuel concerns that this past winter’s good economic news might soon fade. The yields on European bonds are beginning to climb. As the European debt crisis begins to look more fragile, countries are paying more to borrow money, which is not a good thing when one is already deeply in debt. In the United States, employers are still nervous about hiring, and the unemployment numbers reflect this. And as we all know from the gas pump, oil prices have been going up.

Precious Metals prices are relatively flat today, as the equity markets in the U.S.A. climbed 100 points during morning trading hours. Better than expected business sentiment out of Germany boosted the euro and pushed Gold prices slightly higher. In general, Gold prices are caught between the unlikelihood of QE3 versus its safe haven appeal in the face of a ramped up European debt crisis. The International Monetary Fund and the World Bank are meeting this weekend to discuss the euro crisis. News from that meeting should affect Gold prices at at the market’s opening at 6 p.m. (EDT) Sunday.

At 1 p.m. (EDT), the APMEX precious metals spot prices were:

• Gold - $1,644.00 - Up $2.10.
• Silver - $31.68 - Down $0.17.
• Platinum - $1,581.90 - Up $4.90.
• Palladium - $678.50 - Up $14.20.

APMEX’S Account Managers now have extended hours and are here to serve you until 8 p.m. (EDT) Mondays through Thursdays, and until 6 p.m. (EDT) on Fridays! If you have any questions about investing in precious metals or would simply prefer to place you order by telephone, we are here to help.