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Morning Gold & Silver Market Report – 4/4/2011

OIL SURGES PAST $108 SILVER SOARS PAST $38 – Oil prices are on the move as unrest in the Middle East and North Africa continue to concern the markets. Rising oil prices also fan the fears of inflation, which may be why gold and silver are moving up in early morning trading. We should remember not to focus solely on Libya; the entire situation is still volatile and unresolved. In the end, we do not know what we will have once the new regimes have taken their seats at the table.

There will be much attention this week on the posturing between Democrats and Republicans on the 2012 budget, that if not resolved by Friday, could shut the government down. The GOP came out with their plan to cut $4 trillion dollars. There is much debate as to the actual chance of a government shut down and I see strong arguments for both sides of that fence. It would appear to me this is still very much up in the air.

The ECB will announce later this week whether they are going to raise interest rates. It is expected that they will go up 25 basis points as a means to fight off inflation. Investors worldwide will be watching for this decision and its potential impact on global markets and currencies.

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,436.90 (up $8.00)
  • Silver price - $38.37 (up 77 cents)
  • Platinum price - $1,785.40 (up $9.50)
  • Palladium price - $787.00 (up $10.90)

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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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