Our Daily
Market Reports

Closing Gold & Silver Market Report – 12/30/2011

GOOD DAY FOR GOLD, SILVER

The U.S. stock market closed the year with another down day. In the end, the optimistic projections of a year ago did not come to pass, but the markets at least did not lose ground. The Gold price, on the other hand, was up 11% for the year.

As we move into 2012, we can see more than ever that in this interconnected global economy in which we live, uncertainty may be the norm. “Black Swan” events might occur so often, we might need to call them “Grey Swan” events. Those of us who watch mainstream news can often become frustrated with so many experts spending so many words saying nothing. We hear much and talk much about “hard choices,” but with the exception of Ireland, no nation is really making any. Perhaps we should begin asking ourselves some hard questions.

In an article by Michael Snyder, published at Business Insider, he gives every American 40 hard questions we should be asking now. I will list a few and invite you to click on the above link and see the rest. Regardless of whether you agree with the nature of these questions, they provide something to think about.

1. If Iran tries to shut down the Strait of Hormuz, what will that do to the price of oil? And what will that do to the global economy?

3. Why is the Federal Reserve bailing out Europe? And why are so few members of Congress objecting to this?

5. Why does the euro keep dropping like a rock? Is this a sign that Europe is heading for a major recession?

6. Why are European banks parking record-setting amounts of cash at the European Central Bank? Is this evidence that banks don't want to lend to one another and that we are on the verge of a massive credit crunch?

8. What did the head of the International Monetary Fund mean when she recently said that we could soon see conditions “reminiscent of the 1930s depression”?

For now, I prescribe a wonderful and happy New Year’s weekend. We will have issues to tackle in 2012, but they can wait a few more days.

Happy new year from all of us at APMEX!

At 4 p.m., the APMEX precious metals spot prices were:

  • Gold - $1,568.00 – Up $26.10.
  • Silver - $27.94 – Up $0.56.
  • Platinum - $1,401.10 – Up $36.30.
  • Palladium - $656.80 – Up $32.00.

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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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