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Mid-Day Gold & Silver Market Report – 4/18/2011

US CREDIT GIVEN A “NEGATIVE” OUTLOOK – Standard & Poor’s put a “negative” outlook on the long-term AAA credit rating of the US. “We believe there is a material risk that U.S. policy makers might not reach an agreement on how to address medium-and long-term budgetary challenges by 2013,” New York-based S&P said today in a report. This statement does not lower the current AAA rating, but it still brought the White House to the defensive, as they claim this is all about politics.

The above news did push gold and silver slightly forward, but the stock market is currently down over 200 points.Perhaps the only good news as a result of the S&P statement is that oil has dropped more than $2 per barrel.

At 12:15 CT the APMEX precious metal prices were:

  • Gold price - $1,496.20 (up $9.30)
  • Silver price  -$42.95 (up 31 cents)
  • Platinum price - $1,778.70 (down $15.10)
  • Palladium price - $737.00 (down $32.10)

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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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