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Market Reports

Morning Gold & Silver Market Report – 10/25/2012

FESTIVAL SEASON IN INDIA SPURS GOLD DEMAND

Precious Metals prices are rising this morning thanks, in part, to a softer U.S. dollar. Playing a part in Gold’s price increase is physical demand in India, as festival season starts. Edel Tully of UBS AG said, “After India’s festival celebrations yesterday, physical buying is starting on a strong footing today. Perhaps now Gold has visited the lows would-be buyers can actually consider buying the metal again.” Central banks are also increasing physical Gold buying, with Brazil increasing its Gold reserves last month.

The weekly jobless claims report sent mixed signals to investors this morning. Claims fell by 23,000, though the four-week moving average rose. The report on durable goods rose more than expected last month. Economists expected durable goods orders to rise, and the report confirmed their predictions. Precious Metals prices were little changed immediately after the release of these reports, paring gains very mildly.

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,715.60, Up $13.90.
  • Silver, $32.16, Up $0.53.
  • Platinum, $1,572.80, Up $12.60.
  • Palladium, $606.10, Up $12.30.

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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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