Our Daily Gold & Silver
Market Reports

Morning Gold & Silver Market Report – 7/29/2011

MAJOR DEBT CEILING VOTE CANCELLED, MEETING DEADLINE AN UNCERTAINTY A vote on House Speaker John Boehner’s deficit-reducing debt ceiling deal was cancelled yesterday, after Boehner failed to garner enough support from his fellow Republicans.  In any case, the Senate was prepared to vote down the bill, however from there the... Read More

Closing Gold & Silver Market Report – 7/28/2011

EXECUTIVES PRESSURE WASHINGTON ON DEBT DEAL; MOODY’S WARNS OF DOWNGRADE CONSEQUENCES Pressure to come up with an agreement on raising the federal debt limit is being put on Washington lawmakers by the top executives from some of the country’s most prominent financial institutions. In a letter released today, executives from Goldman Sachs, JPMorgan Chase, and Bank of America cautioned tha... Read More

Mid-Day Gold & Silver Market Report – 7/28/2011

DEBT VOTE HAPPENING TODAY Speaker of the House John Boehner’s revised plan for deficit-cutting has been submitted for approval. The vote is set to occur sometime between 5:45 & 6:15 p.m. EDT. If the bill passes the House, the feeling is there could be some type of bipartisan agreement on a resolution. The issue facing the plan is not every one is on board w... Read More

Morning Gold & Silver Market Report – 7/28/2011

DEBT CEILING VOTES TODAY; JOBLESS CLAIMS DROP House Speaker John Boehner’s reworked debt-ceiling deal is expected to pass when representatives vote later today.  It is, however, expected to find resistance in the Senate, as Democrats have spoken out against it.  Senate Majority Leader Harry Reid is gathering support for his ... Read More

Closing Gold & Silver Market Report – 7/27/2011

STOCKS FALL AS DEBT LIMIT DISAGREEMENTS CONTINUE; TREASURY STRESSES AUGUST 2ND DEADLINE As an agreement on raising the debt ceiling continued to elude lawmakers, stocks in the U.S. fell, with the Dow Jones Industrial Average dropping by 198.75 points and the Standard & Poor’s 500 Index sinking by 2%, the largest drop in two months. Meanwh... Read More

Mid-Day Gold & Silver Market Report – 7/27/2011

HURDLES FOR DEFICIT-REDUCTION PLANS; FED WON’T STEP IN Hurdles are popping up all over the place in Washington as both Democrats and Republicans are working on proposals to cut the national deficit.  House Speaker John Boehner saw his proposal delayed due to strong opposition from both parties, while Senate Majority Leader Harry Reid’s plan is being rework... Read More

Morning Gold & Silver Market Report – 7/27/2011

GOLD RISES AS DEBT CEILING STUMBLES Gold prices surged to another new high overnight, as investors seeking to protect their wealth against the possibility of a U.S. debt default sought the safe haven of gold. Silver prices have continued to rise as well and are now at their highest prices since May. Although the consensu... Read More

Closing Gold & Silver Market Report – 7/26/2011

GOLD RISES FOR THIRD STRAIGHT DAY AS STALEMATE CONTINUES In the continuing trend of reporters having nothing to report, the debt stalemate in Washington has continued for another day.  With the possibility of default less than one week away, tensions are running high as the world watches and waits for something – anything - to happen. Gold prices have rises throughout the stalemate, and have hit new highs in the last few days.  Read More

Mid-Day Gold & Silver Market Report – 7/26/2011

COMPROMISE, TOO MUCH TO ASK? Competing plans for the U.S. debt crisis have both Republicans and Democrats focused on finding support votes for those plans. Leaders in the Senate and the House differ on whether to use a plan that proposes a short-term solution that would see another debt limit battle next year, or whether... Read More

Morning Gold & Silver Market Report – 7/26/2011

OBAMA, GOP STILL FAR OFF ON DEBT CEILING DEAL Last night’s televised speech by President Obama clearly showed that the two sides are still no closer to an agreement that would allow the U.S. to raise the debt ceiling in order to avoid what most analysts describe as a devastating default. "For the first time in history, our country's triple-A credit rating ... Read More

Closing Gold & Silver Market Report – 7/25/2011

IN THIS STATE OF CONFUSION, TODAY’S GOLD PRICES CONTINUE TO RISE Precious metals are continuing to rise today while the debt ceiling debates still swirl about with no resolution in sight. In a report from GoldCore, “An eleventh-hour solution is expected before next Tuesday’s August 2 deadline, when the U.S. Treasury has said that it would not be able to borrow any more funds.  At the same time, Read More

Mid-Day Gold & Silver Market Report – 7/25/2011

WORLD WATCHING DEBT CEILING TALKS Worldwide financial leaders remain hopeful and secure that U.S. lawmakers will come through on their debt impasse compromise. The majority of countries believe the U.S. will come to an agreement, but view the combination of a raise to the debt ceiling and a ‘wait and see approach’ to balancing the budget to accommodate tha... Read More

Morning Gold & Silver Market Report – 7/25/2011

GOLD, U.S. DOLLAR HIT NEW RECORDS ON DIFFERENT ENDS Gold spot price set an all-time record overnight, reaching $1,624.07 before settling back somewhat in morning trading. U.S. lawmakers had signaled that an agreement on the debt ceiling deal would be forthcoming before the opening of the Asian marke... Read More

Closing Gold & Silver Market Report – 7/22/2011

CUT, CAP AND BALANCE BILL REJECTED As expected, the “Cut, Cap and Balance” bill passed by the U.S. House of Representatives failed to make it through Senate today.  The bill, which would have allowed the debt limit to be raised only with corresponding spending cuts and an amendment to the Constitution requiring a balanced budget, was defeated by a vote of 51-46.... Read More

Mid-Day Gold & Silver Market Report – 7/22/2011

AMERICANS BACK COMPROMISE; GREEK DEFAULT? The debt ceiling talks continue to be a source of concern for the American public. President Obama is looking for a large cut in the deficit (trillions of dollars) while lifting the debt ceiling. The sticking point is the belief that in order to accommodate these parameters, taxes would need to be raised. The in... Read More

Morning Gold & Silver Market Report – 7/22/2011

DETAILS OF GREEK BAILOUT AND OBAMA’S DEBT-SHRINKING PLAN Details of the European Union’s bailout of Greece have emerged, and the package is being seen as stronger than expected.  Fitch Ratings said it will declare Greece to be in "restricted default,” however this was an expected consequence, according to EU leaders.  The deal is expected t... Read More

Closing Gold & Silver Market Report – 7/21/2011

EU REACHES BAILOUT AGREEMENT; US DOES NOT Gold traded lower today on news that European leaders have finally agreed on a plan to contain the sovereign-debt crisis.  However, Matt Zeman of Kingsview Financial in Chicago, comments, “The EU lacks credibility in a lot of investors’ minds…whether or not this debt deal gets done, the fact of the matter rema... Read More

Mid-Day Gold & Silver Market Report – 7/21/2011

CREDIT RATINGS LOOKING BLEAK Standard & Poor’s reiterated its position today that if the U.S. government misses its scheduled debt payments it could cut the U.S. credit rating as early as August. There is some tie-in to both raising the debt ceiling and balancing the budget that S&P needs to see to avoid that type of action. The trickle-down ef... Read More

Morning Gold & Silver Market Report – 7/21/2011

GREEK BAILOUT INCLUDES DEFAULT? The meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy brought about a “common position” regarding a second bailout for Greece.  European Union leaders meet today to discuss the matter further.  The euro has bounced all over the place since the news came ou... Read More

Closing Gold & Silver Market Report – 7/20/2011

Despite gold trading lower this morning, it has rallied to stay above the $1,600 mark.  Precious metals took a little dip today on news of President Obama pushing for a quicker deal on the debt ceiling.  However, with the seriousness of the situation combined with a struggling economy and rumors of QE3, people stayed close to the safe-haven inve... Read More

Mid-Day Gold & Silver Market Report – 7/20/2011

MORE PLANS, MORE PROBLEMS, GOLD RISING Congressional leaders are doing their best to come up with a strong enough compromise that will accommodate the need to increase the debt ceiling, while also balancing the budget. The main component is trying to accommodate two different plans in one fell swoop among a bipartisan C... Read More

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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