by
Peter LaTona
January 19, 2012
GOLD, SILVER PRICES RETREATING
Mixed economic data in the United States sent precious metals prices lower in morning trading. Weekly jobless claims figures came in much lower than expected and inflation is still under control, but housing starts unexpectedly weakened. The weekly unemployment benefit applications fell to its lowest number in four years, but the housing starts data tempered hopes that the housing sector might boost the economy this year.
Robert Melstein of CNBC wrote that 40 percent of affluent Americans are optimistic about the U.S. economy. This is the highest level in about six months. At the same time, their No. 1 investment pick was not stocks or real estate; it was Gold.
At noon (CST), the APMEX precious metals spot prices were:
- Gold - $1,655.10 – Down $6.30.
- Silver - $30.60 – Down $0.03.
- Platinum - $1,523.00 – Down $3.30.
- Palladium - $678.60 – Up $9.20.
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