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Morning Gold & Silver Market Report – 2/20/2013

FED MINUTES EYED; CRAMER TALKS UP GOLD

Precious Metals prices are trading lower again this morning as investors await the minutes from the latest Federal Reserve meeting. These minutes are expected to show that a large portion of the meeting was spent discussing how to end the third round of quantitative easing. Monetary stimulus such as QE3 has been responsible for many of the large upswings in the Gold price specifically over the past few years. It has been speculated recently that the potential end to QE3 is a large part of the reason for the recent price dip in the yellow metal’s price.

CNBC’s Jim Cramer has repeatedly stated that the best time to increase or establish a position in an investment is on a pullback. On the February 15 edition of Mad Money, Cramer talked highly of Gold, despite the pullback in price. “Think of it as insurance against economic and geopolitical chaos as well as inflation,” he said. “You wouldn’t own a home without homeowner’s insurance, you wouldn’t own a car without car insurance, and you shouldn’t invest without some Gold exposure because Gold pays off when everything else fails. With governments debasing their currencies left and right to be competitive, investors need to go somewhere, and they’ve been turning to Gold.”

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

  • Gold, $1,593.50, Down $11.80.
  • Silver, $29.13, Down $0.36.
  • Platinum, $1,660.80, Down $36.70.
  • Palladium, $755.80, Down $9.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EST)! Or call us Fridays until 6 p.m. (EST)! If you have any questions about investing in Precious Metals or simply would prefer to place your 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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