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Closing Gold & Silver Market Report –4/18/2011

GOLD FLIRTS WITH $1500 ON S&P NEGATIVE COMMENTS – Standard & Poor’s issued a negative outlook on US AAA Bonds, which sent the stock market reeling and gold prices up. There is now a 1 in 3 chance that the S&P could downgrade US credit in the next three years.  It was not just the S&P announcement driving the markets today, but debt fears on both sides of the ocean as well as China tightening its monetary policy once again.

Marc Faber, is advising investors to act as their own central bank. He said investors "should be their own central banks and gradually accumulate gold reserves as a currency", rather than speculating in gold. Central banks did become net purchasers of gold for the very first time in 2010.

Fed policies pick the pockets of US Bond investors according to PIMCO’s Bill Gross. The Federal Reserve's zero-interest-rate policies are making it impossible for investors to make money by holding Treasury's, he told CNBC. No matter how you look at it, investors are getting a negative real return.

At 4PM CT the APMEX precious metals prices were:

  • Gold price - $1,497.70 (up $10.70)
  • Silver price - $43.48 (up 84 cents)
  • Platinum price - $1,782.50 (down $11.30)
  • Palladium price- $737.20 (down $31.90)

For gold investors who prefer proof coins or proof sets with box and papers, we have a large collection of 2010 Proof Gold Eagles.  If you are just looking for gold bullion products it is hard to beat our wide selection of gold bars and rounds.

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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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