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Morning Gold & Silver Market Report – 4/5/2012

COULD SHARP DROP IN STOCKS RESULT IN QE3?  

Gold and Silver prices are recovering from yesterday’s decline, and U.S. stock futures are recovering from early morning drops after the release of the weekly report of claims for unemployment benefits. The report showed a better-than-expected 357,000 new claims were filed, and the four-week moving average dropped by 4,250. These are the lowest numbers since 2008.

CNBC.com senior writer Jeff Cox said that a significant stock market drop could jolt the Federal Reserve into another round of quantitative easing. Quincy Krosby of Prudential Annuities said, “(Fed President Ben) Bernanke and (former Fed Chairman Alan) Greenspan made it clear that the stock market is the transmission mechanism for monetary policy.”

After a cease-fire was reportedly reached in Syria, fighting has only intensified. The situation in Syria is important to global geopolitical relationships because Syria’s closest ally is Russia. Tensions between Syria and the United Nations also could lead to tensions between Russia and Western powers.

At 8 a.m. (CDT), the APMEX precious metals spot prices were:

  • Gold – $1,624.70 – Up $9.90.
  • Silver - $31.42 – Up $0.33.
  • Platinum - $1,594.00 – Down $3.60.
  • Palladium - $635.00 – Up $1.30.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays! If you have any questions about investing in precious metals or would simply prefer to place your order by telephone, we are here to help.

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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.

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