Closing Gold & Silver Market Report, 6/14/2012


The United Kingdom Treasury and Bank of England are preparing to embark on two economic stimulus measures. The measures are designed to spur lending and give a boost to credit markets. In one measure, the Bank of England will create an additional 5 billion pounds per month, thereby increasing the money supply. The other measure will be an asset purchasing program, in which the central bank will purchase assets from private banks, and the private banks are to loan the cash to the public. “We are not powerless in the face of the eurozone debt storm,” said Chancellor of the Exchequer George Osborne. “The government -- with the help of the Bank of England -- will not stand on the sidelines and do nothing as the storm gathers.”

Despite negative economic data released this morning, stocks on American exchanges climbed higher today as speculation rose about further stimulus action by the Federal Reserve. “The only reason you could possibly be trading higher, based off of the morning economic data, is the odds of (further stimulus),” said Dan Greenhaus, chief global strategist at New York brokerage BTIG LLC. “There’s nothing in the morning data that’s ‘good.’” 

The Gold price climbed slightly on the stimulus news. Metals analyst James Steel said, “The data out this morning reignited the possibility of further U.S. easing, and that’s supportive to Gold. The market has been characterized with a lot of volatility due to market speculations about Federal Reserve monetary easing.”

At 1 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,624.20, Up $4.80.
  • Silver, $28.71, Down $0.34.
  • Platinum, $1,494.70, Up $25.90.
  • Palladium, $636.50, Up $12.30.

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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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
4/17/2014 12:18:57 AM EST

Metal Bid Ask Change
Gold $1,301.10 $1,303.10 ($2.40)
Silver $19.51 $19.61 ($0.08)
Platinum $1,426.30 $1,436.30 ($1.50)
Palladium $796.80 $801.80 ($1.50)
4/17/2014 12:18:57 AM EST

Click here for Historical Charts*All Charts are in USD

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