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Mid-Day Gold & Silver Market Report – 6/27/2011

U.S. BOND BUYING TO CONTINUE? WARRANT ISSUED FOR GADDAFI

The Federal Reserve may continue to purchase Treasury bonds once QE2 comes to an end. The reinvestment into the bonds could pump as much as $300 billion towards the government debt without adding currency, or printing money to cover investment. The purchases are a means of support as Congress continues to hash out the balancing of the budget. According to Matt Toms, head of public fixed-income investments at Atlanta-based ING Investment Management, “I don’t think the Fed wants to remove accommodation in any way, shape or form…It’s quite natural for them to reinvest cash, that effectively maintains the accommodative stance.”

The International Criminal Court issued an arrest warrant today for Muammar Gaddafi and a few of his high-ranking followers. This was a move designed to protect Libyan civilians. However, the ruling is highly unlikely to lead to Gaddafi’s actual arrest as long as he remains in power and in Libya. The International Criminal Court can issue warrants but cannot enforce its own warrants.

At 12 PM (CDT) the APMEX precious metals’ prices are:

  • Gold price – $1493.10 (down $8.30)
  • Silver price – $33.49 (down $1.24)
  • Platinum price – $1673.00 (down $5.60)
  • Palladium price - $726.10 (down $5.60)

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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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