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Morning Gold & Silver Market Report – 12/19/2011

WHAT GEOPOLITICAL RISKS WILL SHAKE MARKETS IN 2012?  

The Gold price is rising moderately, while the Silver price is down this morning after choppy weekend trading. North Korean leader Kim Jong Il’s death sent Asian stocks downward, which is supporting the U.S. dollar along with the European debt crisis. Suki Cooper of Barclays Capital said the dollar’s strength “is likely to weigh upon Gold prices in the absence of strong physical demand over the remaining weeks of the year.” Cooper continued, “Longer term, Gold still possesses structural pillars of support in an environment of negative real interest rates and rising inflationary pressures, as well as continued central bank buying.” Tao Jinfeng of Haitong Futures Co. said “many buyers (are) looking out for a bargain,” which will support the price of Gold.

U.S. stock futures are rising this morning, but experts expect a mild trading day. European Union leaders are holding a conference call today, and European Central Bank President Mario Draghi is scheduled to speak in front of the Committee on Economic and Monetary Affairs of the European Parliament. Richard Kelly of TD Securities said that these events “may provide some headlines,” but no immediate significant effect to the markets is expected.

Nomura Holdings constructed a list of 10 geopolitical risks that could have a major effect on the markets in 2012. Topping the list was a potential breakup of the eurozone, followed closely by America’s debt problems. The list brings to the forefront some issues that are often left off the front page, and can be a reminder as to how many geopolitical issues are still ongoing. Also on the list were the Arab Spring disrupting oil production, China’s economy declining, the tension between Pakistan and India, and the now-uncertain situation in North Korea.

At 8 a.m. (CST), the APMEX precious metals prices were:

  • Gold - $1,606.90 – Up $9.00.
  • Silver - $29.04 – Down $0.66.
  • Platinum - $1,425.90 – Up $7.60.
  • Palladium - $630.40 – Up $3.90.

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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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