Our Daily
Market Reports

Closing Gold & Silver Market Report - 4/20/2012

GOVERNMENTS COMMIT TO BOOST INTERNATIONAL MONETARY FUND  

There was little afternoon movement in Precious Metals prices, following the day’s trends. Gold’s price was stable throughout the day with the anticipation from investors of next week’s Federal Reserve policy meeting, along with this weekend’s International Monetary Fund and World Bank meetings, which will outline the future of the eurozone debt crisis. “Silver, Platinum and Palladium are currently under pressure due to their industrial characteristics, but should also increase again over the course of the year,” Commerzbank said in a note.

Today, the Group of 20 finance ministers and central bankers came together and agreed to more than $430 billion in new money for the International Monetary Fund, which will defend the world economy from further debt issues in Europe. Mexican Finance Minister Jose Antonio Meade commented on the decision to increase funds for the IMF, saying, “There was recognition that more needs to be done.”

At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold - $1,644.10 - Up $2.20.
  • Silver - $31.73 - Down $0.12.
  • Platinum - $1,580.90 - Up $3.90.
  • Palladium - $676.00 - Up $11.80.

APMEX’S Account Managers now have extended hours and are here to serve you until 8 p.m. (EDT) Mondays through Thursdays, and until 6 p.m. (EDT) on Fridays! If you have any questions about investing in precious metals or would simply prefer to place you order by telephone, we are here to help.

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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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