Our Daily
Market Reports

Morning Gold & Silver Report, 7/30/2012

GOLD PRICE SLIGHTLY LOWER IN OVERNIGHT TRADING  

Gold and equity markets are both poised to advance in the event that European leaders announce a plan to bail out Spain and curb further contagion. Spain has requested further eurozone support in buying its sovereign debt. Germany continues to be resistant to this notion, and this sets up a clash of wills as German finance officials prepare to meet with U.S. Treasury Secretary Tim Geithner. Geithner has said the eurozone crisis is the biggest threat to the U.S. economy, so it is expected he will put pressure on Germany to take additional action.

The economic picture in Spain continues to worsen as that nation’s recession deepened in the second quarter. Tough new austerity measures were enacted, which took a toll on overall demand and consumer prices. Consumer prices rose 2.2 percent year over year. All in all, this paints a difficult picture for Spain to climb out of its budget deficit.

European stocks are currently trading higher on hopes that the European Central Bank will step in with additional measures, while U.S. stock futures are trading lower as they await potential action.

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

  • Gold, $1,618.00, Down $2.20.
  • Silver, $27.78, Up $0.19.
  • Platinum, $1,410.70, Up $2.50.
  • Palladium, $582.50, Up $9.60.

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
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-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