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Market Reports

Morning Gold & Silver Market Report – 6/12/2013

STOCK MARKETS STABLIZE; GOLD UNCERTAIN

European markets are up, and Asian markets pared early losses today as the U.S. stock market is set to open on a positive note from rising futures trading. Stocks in Europe were up today after better-than-expected data was released showing the area’s industrial output increased for April. Investors will likely keep their eyes on central bank policies, specifically from the U.S. Federal Reserve. Matthew Sherwood, the Sydney-based head of investment market research at Perpetual Ltd., said, “There’s lots of confusion around the world at present about what central bank policy means for the outlook of the global economy, earnings and valuations. The Fed is likely to continue to be ambiguous about its next step, probably because it’s not sure. This will see markets continue to be volatile.”

The Gold price stabilized overnight on Wednesday, but is still feeling pressure as loose monetary policy may be coming to a close. Analysts predict that volatility in the financial markets may continue until the Fed’s meeting later this month. Pradeep Unni, senior analyst at Richcomm Global Services, said, “Technically Gold will be under extreme pressure as long as $1,421 is not breached on a closing basis. … Markets will however wait for cues from the Fed next week.”

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

  • Gold, $1,377.60, Down $1.40.
  • Silver, $21.81, Up $0.04.
  • Platinum, $1,483.60, Up $2.20.
  • Palladium, $755.50, Up $3.00.
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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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