Our Daily
Market Reports

Morning Gold & Silver Market Report – 5/4/2012

JOB NUMBERS DISAPPOINT; GREECE IN TROUBLE AGAIN  

Precious Metals prices recovered from early losses this morning after the release of April’s employment report by Automatic Data Processing Inc. The report showed that the economy added 119,000 jobs in April, while economists had anticipated the addition of 160,000 jobs. The unemployment rate fell by one-tenth of a percent, to 8.1 percent, but that was attributed completely to people who gave up searching for jobs. Stock futures fell after the report was released.

If investors thought that the Greek debt crisis had been resolved after the deal reached earlier this year, they should think again. An election Sunday threatens to throw that nation off balance. Analysts at UBS said, “Part of the problem is that the Greek government appears to be running out of money fast. According to the IMF (International Monetary Fund), it has gone back into arrears with suppliers, so the need for the Greek government to implement existing austerity plans and detail future cuts -- in order to receive disbursements under the second aid plan -- is acute.”

In related “stories-we-thought-were-dead” news, Egyptians are rallying for a free presidential vote. Egypt was the spark for the Arab Spring, as protests raged against the longtime rule of President Hosni Mubarak, eventually resulting in his overthrow. Egypt has been under military rule since, and protesters are worried that the generals will manipulate the coming elections.

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold – $1,637.70 – Up $1.90.
  • Silver - $30.09 – Up $0.06.
  • Platinum - $1,532.30 – Down $1,80.
  • Palladium - $662.50 – Up $0.20.

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.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

AURIC