Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/27/2012

GOLD, SILVER CLOSE WEEK ON HIGH NOTE  

While many investors might have anticipated a retreat in Gold and Silver prices, this week ended on an up note, and many people believe that is an indicator of things to come. The situation in Europe is truly turning for the worse, as Spain’s woes would seem too big for the European Union to bail out. This writer would not usually pay attention to $7,000 per oz Gold forecasts, but when it comes from the Bank of America, you have to take note. Bank of America investment bank analyst MacNeil Curry is forecasting that Gold will go as high as $7,000 per oz before its long-term rally begins to decline. Curry points out that commodity bull markets end with a massive speculative blow off, and it does not end quietly. A massive speculative blowout would be when prices effectively double within a year or less, and we have yet to see that with Gold. As Gold’s price continues to rise, the double-down effect of a massive blowout easily could send it to $3,000, $5,000, $7,000 or higher.

Who knows? It all starts again Sunday at 6 p.m. (EDT). Have a greet weekend!

At 5 p.m. (EDT), the APMEX precious metals spot prices were:

  • Gold - $1,664.40 – Up $2.90.
  • Silver - $31.30 – Up $0.02.
  • Platinum - $1,575.80 – Up $5.60.
  • Palladium - $684.80 – Up $11.00.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! 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 ‘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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