Our Daily
Market Reports

Closing Gold & Silver Market Report –12/23/2011

GOLD, SILVER PRICES NEUTRAL   

On a day when the “Santa Claus Rally” boosted stocks almost 125 points, the S&P 500 squeaked into positive territory for the year. One year ago, most analysts were predicting a very strong year for the stock market with an S&P 500 climbing over 1,350 points. Today, investors are happy just to get positive gains. The S&P 500 closed at 1,265.33.

This is the time of predictions for the coming year. It is no surprise that investor uncertainty is at a six-year high. The most certain prediction is one for continued volatility. About 38% of respondents to a poll by the American Association of Individual Investors said they think stock prices will remain flat the first six months of 2012. Only 33% said they expect prices to rise, which is below the historical average of 39%.

We can expect to see the same players driving the markets for a while.The European sovereign debt problem, U.S. debt problems, not enough jobs, slow growth and a political system in which the two parties cannot agree -- these can all wait until next week. For now, Happy Holidays from APMEX!

At 4 p.m., the APMEX precious metals prices were:

  • Gold - $1,608.80 – Down $2.80.
  • Silver - $29.15 – Up $0.04.
  • Platinum - $1,432.30 – Up $5.80.
  • Palladium - $660.50 – Up $5.20.

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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for gold, silver, platinum and palladium on our Spot Price Charts page.

 
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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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