Mid-Day Gold & Silver Market Report – 5/19/2011

MORE SIGNS OF SLUGGISH GROWTH FOR THE US ECONOMY – There were several key economic reports that came out today, that indicate slower economic growth in the US. Factory activity in the Mid-Atlantic region grew slower than expected. A gauge of future economic activity (Philadelphia Fed Board), fell for the first time in nearly a year during April. There was an unexpected decline in existing home sales in April; adding even more concerns to a struggling housing industry. The jobless claims fell in April, after a much sharper than expected rise in March, but the four-week moving average rose for the second month in a row. The four-week indicator is considered a better gauge as to what is actually happening in the housing market.

The Fed has telegraphed their intention to end QE2 as scheduled, but investors will continue to watch incoming economic data for continued signs of further weakening, which could cause the Fed to rethink their position.  The end of QE2 is widely viewed as detrimental to stocks and bonds.

 

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

  • Gold price - $1,495.90 (down $1.40)
  • Silver price - $35.06 (down 13 cents)
  • Platinum price - $1,770.40 (down $10.50)
  • Palladium price - $733.50 (down $7.80)

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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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