Our Daily
Market Reports

Mid–Day Gold & Silver Market Report – 3/1/2012

GOLD, SILVER PRICES RECOVERING FROM WEDNESDAY’S DOWNTURN  

Gold and Silver prices have been moving up through the morning, recovering from yesterday’s significant move down. Comments made by Federal Reserve Chairman Ben Bernanke are widely viewed as the cause of the strong sell-off, and Bernanke is back speaking before Congress today. There is strong interest as to whether Bernanke’s tone will remain the same, or whether he will open the door for a little more wiggle room regarding another round of quantitative easing. Along with the downturn in the Gold price, the equities market was down, as well. There is concern that Bernanke’s comments could damper the recent surge in equity prices.

Contrary to Bernanke’s optimism, two reports that just came out today paint a different picture. Manufacturing in the U.S. softened in February, and consumer spending in January was flat for the third month in a row. “Things are not so rosy in the garden, and the consumer is still facing significant headwinds here,” said Ray Attrill, head of currency trading for North American BNP Paribas in New York. All of this points to weak consumer spending through the first quarter of 2012.

At noon (CST), the APMEX precious metals spot prices were:

  • Gold - $1,721.10 – Up $9.30.
  • Silver - $35.30 – Up $0.64.
  • Platinum - $1,703.10 – Up $9.50.
  • Palladium - $718.00 – Up $9.60.

« Return to Commentaries

World Market Trading Hours

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.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20 a.m.-1:30 p.m. (ET)
Monday-Friday
8:25 a.m.-1:25 p.m. (ET)
Monday-Friday
8:20 a.m.-1:05 p.m. (ET)
Monday-Friday
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)

Disclaimer:
APMEX 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. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

Items In Cart


There are no items in the cart.

AURIC