Mid-Day Gold & Silver Market Report – 4/15/2011

FED OFFICIALS DISAGREE ON ACCELERATING INFLATION

Federal Reserve policymakers are in disagreement on how best to tackle the problem of accelerating inflation.  After news of a 0.5% increase in the Consumer Price Index, a key inflationary measure, some central bankers are still advocating an easy-money policy.  Annualizing this 0.5% increase would indicate a 6% rate of inflation in consumer prices.  Gold and silver prices seem to be moving inversely to the weakening U.S. dollar, and are holding at or near record and recent highs, respectively.  While the Fed is choosing to look at the “core” CPI numbers (which doesn’t include food and energy costs) and standing pat on monetary policy, the European Central bank is likely to raise its interest-rate target again due to an annualized 2.7% growth rate in inflation.

Also supporting gold and silver prices are the events abroad.  “The bullion market has found support one day from economic uncertainty and changes in risk sentiment, and on another day by high oil and food prices, and on yet another by sovereign risk and fiscal concerns,” explains Jim Steel of HSBC.

At 12PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,487.30 (up $13.90 on the day)
  • Silver – $42.72 (up $0.99)
  • Platinum – $1,793.50 (down $1.10)
  • Palladium - $769.50 (down $5.80)

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Disclaimer:

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 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD


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