Our Daily
Market Reports

Closing Gold & Silver Market Report – 2/8/2012

QE3 STILL POSSIBLE, FEDERAL RESERVE OFFICIAL SAYS  

John Williams, president of the San Francisco Federal Reserve Bank, said today that the Fed might need to launch a third round of asset purchases with printed money, commonly known as quantitative easing, if the economy slows and inflation remains below 2 percent. He said that buying mortgage-backed securities would be a logical choice. “I expect the pace of economic growth to be frustratingly slow and the unemployment rate to remain high for years to come,” Williams said.

Gold and Silver prices finished lower today, while Platinum and Palladium experienced small price gains. Greek debt talks continue to dominate the action. When talks began to look promising, the Gold price went up; if talks had been disappointing, the Gold price went down. It is not the mood of the negotiations that moves Gold prices; it is the movement of the euro and its relation to the U.S. dollar. Talks look good, then the euro goes up, the dollar goes down, and Gold goes up. Today was a day of uncertainty. Stocks went up slightly on hopes of a resolution, while Gold and Silver prices went down in disappointment. Stay tuned, as the drama will continue tomorrow.

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

  • Gold - $1,732.90 – Down $14.00.
  • Silver - $34.02 – Down $0.25.
  • Platinum - $1,668.00 – Up $12.20.
  • Palladium - $716.00 – Up $5.80.

« Return to Commentaries

World Market Trading Hours

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

 
Gold
Silver
Platinum
Palladium
COMEX &
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
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM