Our Daily
Market Reports

Morning Gold & Silver Market Report – 4/2/12

GOLD, SILVER PRICES SLIGHTLY LOWER IN OVERNIGHT TRADING   

Gold futures declined largely on concerns about events in India and Turkey. Jewelry stores in India are on strike against recent government taxes on Gold, which has reduced Gold imports from Turkey. The weaker jewelry demand is not currently offset by investment demand, so there is downward pressure on pricing.

The eurozone’s jobless rate reached its highest in 15 years, with more the 17 million people out of work. The unemployment rate in the 17 nation eurozone rose to 10.8 percent. This highlights the human costs when governments are forced to make drastic spending cuts. There are those who think these spending cuts are too much too soon, but the European Commission seeks to restore investor confidence by aggressively getting deficits under control. Still, this leaves millions of Europeans looking for work with an economy sliding into recession.

Speaking on CNBC this morning, Marc Faber (otherwise known as “Dr. Doom”), predicted that investors -- particularly the wealthy -- will lose about half their total wealth in the next few years as a result of global government debt problems that have central banks printing money at record rates. “Somewhere down the line, we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or credit market collapse,” he said. “Maybe all of it will happen but at different times.” Faber has long been bullish on Gold and other hard assets such as real estate. He also expects stocks to go up in the short term, as they benefit from the printing of money, as well.

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

  • Gold - $1,669.50 – Down $1.90.
  • Silver - $32.52 – Down $0.02.
  • Platinum - $1,643.80 – Up 70.
  • Palladium - $659.00 – Up $3.90.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for gold, silver, platinum and palladium on our Spot Price Charts page.

 
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