Morning Gold & Silver Market Report – 8/30/2011


Gold, silver, platinum, and palladium were mostly flat in overnight trading, but have recently swung higher.  U.S. stock futures are pointing to a low start for Wall Street, as investors await the release of economic data regarding consumer confidence.  Consumer confidence is expected to show a sharp decline.  The Case-Shiller index, which tracks home prices, fell in June by 0.1% from May, and 4.5% from June 2010.  Also on tap is the release of the minutes from the Federal Open Market Committee meeting from August 9 this afternoon.

The President of the Chicago Fed said this morning that he is supportive of more easing.  He described the jobs market as “recession-like,” and added that the economy seems to be “moving sideways.”  He pushed for more easing at the August 9 FOMC meeting than what actually came about, with interest rates remaining at near-zero levels for the next two years.

The politicians in Washington are at it again, as Representative Eric Cantor has said that there will be a federal role in the recovery of damage from Hurricane Irene, but there’s a catch.  In an all-too-familiar tone, the No. 2 Republican says that his peers are “going to make sure that there are savings elsewhere” before finding the money to aid in the recovery.  Democratic Senator Mary Landrieu retorted, saying, “It makes no sense to cut programs that help respond to future disasters in order to pay for emergencies that have already occurred.”

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

  • Gold - $1,831.50 – up $37.90.
  • Silver - $41.66 – up $0.99.
  • Platinum - $1,845.00 – up $19.00.
  • Palladium - $769.60 – up $13.90.

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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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