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Closing Gold & Silver Market Report – 3/27/2012


A report released today from The Conference Board industry group showed consumer confidence dropping and inflation expectations jumping to the highest level since May 2011. “The biggest moving part in that scenario has been gasoline prices. So, that is certainly on consumer radar screens,” said Carl J. Riccadonna of Deutsche Bank Securities in New York. Scott Brown, chief economist at Raymond James, said, “I don’t think this is enough to throw us into a recession, but we really haven’t seen the full impact yet.”

The Case-Shiller home price index fell again in January for the fifth month in a row. This index, combining data from 20 cities, dropped 0.8 percent in the first month of the year. “Despite some positive economic signs, home prices continue to drop,” said David Blitzer, chairman of the index committee. Over the past 12 months, prices fell 3.8 percent. A recovering housing market is considered a key component of an economic recovery, but for now that segment is being hampered by sluggish job creation.

Chief Executive Bill Gross of PIMCO, the world’s largest bond fund, explained in a recent letter how to make money in a “delevering world.” In the phrase “levering world,” Gross means that borrowing, debt and risk/reward premiums go up. Gross said the levering world is giving way to a delevering world, which is a world in which bills are paid off, debt is reduced, and the risk/reward premium declines. In a levering world, financial assets are king, but in a delevering world, real assets take center stage. Real assets are Gold and Silver, commodities, land, buildings and a host of other investments, which allow an investor the potential for the most return with the least amount of risk. Interest rates cannot get any lower, and the long-bond rally is coming to an end. We are entering a delevering world.

At 4:02 p.m. (CDT), the APMEX precious metals spot prices were:

  • Gold - $1,681.40 – Down $5.70.
  • Silver - $32.62 – Down $0.18.
  • Platinum - $1,655.60 – Up $7.90.
  • Palladium - $660.40 – Down $9.40.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays! If you have any questions about investing in precious metals or would simply prefer to place your order by telephone, we are here to help.

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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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