Closing Gold & Silver Market Report – 12/9/2013
ECONOMISTS BELIEVE THE U.S. ECONOMY WILL MAKE A HEALTHY RECOVERY
The National Association of Business Economics quarterly survey surprisingly reflected an optimistic view from economists who believe the U.S. economy will improve in 2014. It is expected that the unemployment rate will continue to fall next year as 200,000 new jobs will be created each month. The creation of new jobs will provide assistance to households who are looking for some relief to make ends meet and drive spending, which will help boost the U.S. recovery.
The next Federal Reserve policy committee meeting is quickly approaching and is set for December 17-18 with high hopes from investors that tapering will be the main focus. “A small taper might recognize labor market improvement while still providing the [Fed] the opportunity to carefully monitor inflation during the first half of 2014,” James Bullard, the president of the St. Louis Federal Reserve Bank, said. Richmond Fed President Jeffrey Lacker shared his disbeliefs on fiscal policy saying it does not boost economic growth and if the Fed continues to purchase more assets it will only add to the Fed’s balance sheet.
At 4:55 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,242.20, Up $10.70.
- Silver, $19.90, Up $0.33.
- Platinum, $1,375.70, Up $17.40.
- Palladium, $736.80, Up $0.60.
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