Our Daily
Market Reports

Morning Gold & Silver Market Report – 8/17/2011

EURO ZONE PLAN BRINGS NO RELIEF TO EQUITY MARKETS

Overseas trading was mixed last night, while U.S. Stock futures are poised to open higher. Gold prices have continued to climb since yesterday’s gains. Silver, which has not experienced the same recent gains as gold, has also trended up the past several days and is once again above $40/oz.

The highly anticipated meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel yesterday did not do enough to satisfy world investors.  The growing feeling is that plans for closer monitoring of fiscal policy in the eurozone are not enough to stop the debt problem from spreading to other countries.

In the U.S., the July Producer Price Index (PPI) rose 0.2%, while core PPI, which excludes the “volatile” markets of food and energy, rose 0.4%, the largest increase since January.  Higher PPI numbers point to inflation, which is yet another bad sign for the sluggish global economy.

At 8:00 am (CT) the APMEX precious metals spot prices were:

  • Gold - $1,788.50 – Up $1.50.
  • Silver - $40.18 – Up $0.26.
  • Platinum - $1,845.90 – Up $27.80.
  • Palladium - $779.60 – Up $21.10.

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World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
CONMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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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