Closing Gold & Silver Market Report – 6/2/2011
TOMORROW IS THE ECONOMIC RECOVERY’S GROUNDHOG DAY!
Precious metals remain lower this afternoon, however a recent warning from Moody’s Investors Service may change that. The credit rating agency warned the United States that if there is no progress in the debt limit situation, the important Aaa debt rating could possibly be downgraded soon. Warnings of a downgrade aren’t new, but earlier reports showed that it would be coming much later this year, if it were to happen.
Stocks were relatively flat after a volatile trading session, likely due to the upcoming jobs report. Tomorrow is somewhat of a Groundhog Day, with the nonfarms payroll report being the groundhog, expected to show us where the economic recovery is headed. Most analysts are fearing it will show us that the recovery is indeed slowing (or halted, for that matter).
At 4:00 pm (CT) the APMEX precious metals spot prices were:
- Gold – $1,535.20 (down $8.50 on the day)
- Silver - $36.24 (down $1.54)
- Platinum - $1,817.30 (down $7.60)
- Palladium - $775.10 (down $6.00)
Our silver sale on select APMEX bars & rounds continues! Many options, any quantity at just $1.49 over spot. Click here for your options on these cheap way to start your collection (or add to it)! Our 1 oz rounds & bars, as well as our 10 oz bars are made by the Sunshine mint in Idaho – the same mint that provides the blanks to the U.S. mint for Silver American Eagles!