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Market Reports

Morning Gold & Silver Report –5/25/2011

DEBT CRISIS DEBT CRISIS DEBT CRISIS -

According to a poll by the Washington Post, Americans are far more worried by the overall growing US debt, than they are worried about whether Congress will raise the debt limit. When asked to express their biggest concern, nearly half said they feared that our debt would just keep growing well beyond the current $14.3 trillion dollar limit, with no end in sight. Only 35% were concerned about the possible ramifications of a failure to raise the debt limit.

The European debt crisis is drawing more and more concern and this has pushed gold prices higher. Gold is seen as a protector of wealth and a recent World Gold Council report showed strong buying during the first quarter from China, India and the European nations. European policy makers continue to disagree on how to solve Greek’s problems ,while at the same time keeping an eye out looking at Portugal, Ireland, Italy and Spain.  These debt concerns have pounded the euro to record lows vs. the Swiss franc.

The Organization for Economic Cooperation and Development stated in their 2011 Economic Outlook that the risks to a global recovery remain significant. In their view, neither the US or Japan has put forth a credible medium term plan to stabilize their growing debt, while many other countries continue to wrestle with how they are going to get their economic house in order. In their opinion, The US Federal Reserve should be raising interest rates, while the European Banks should be slowing down (increases). 

At 7:30 AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,527.30 (up $2.40)
  • Silver price - $37.19 (up 97 cents)
  • Platinum price - $1,774.10 (up $10.60)
  • Palladium price - $746.90 (up $7.70)

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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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