Mid-Day Gold & Silver Market Report –5/27/2011

GOLD UP, DOLLAR DOWN – The US Dollar Index is down almost 0.9% at mid-day today, pushing gold prices up.  There have been many forces acting on the value of the dollar lately: Euro zone fears, the ending of QE2, and the slowdown in the jobs market and GDP data, among others.  Typically, the value of the dollar and gold prices have a negative correlation (as one goes up, usually the other goes down).  Only time will tell where the market is heading, but the value of gold as a hedge against the dollar shows in today’s data.

Is the US heading for a double-dip recession?  It may be too early to tell, but some indicators are pointing that way.  “…[W]e continue to expect a disappointing bounce back to just 3% growth in the second half of the year. The slowdown feels very similar to last year's soft patch," according to economist Ethan Harris.  We kept hearing that the recovery was fragile.  Will the US economy be able to make a significant move upward in the next 3 to 5 years?

 

At 12:30PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,537.90 (up $13.70)
  • Silver price - $37.99 (up 57 cents)
  • Platinum price - $1,802.10 (up $23.00)
  • Palladium price -$764.30 (up $3.10)

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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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