Our Daily
Market Reports

Morning Gold & Silver Market Report – 4/17/2012

EUROZONE DEBT ISSUES BOOST GOLD’S SAFE-HAVEN APPEAL  

Gold and Silver are trading modestly higher this morning. Concerns over the eurozone debt crisis have surfaced again, prompting investors to take another look at Gold as an insurance policy within a portfolio. Oil took an opportunity to gain, as well, as U.S. retail sales were better than expected, weakening the argument that high oil prices would slow the economy. U.S. stock futures are higher and continue to be motivated by corporate earnings at this time.

Furthering the idea that this is an age of market intervention by central banks, analysts believe that bullishness surrounding the European Central Bank’s “tricks” to boost liquidity has ended. Now, investors seem to be waiting for more. Eimear Daly of Schneider Foreign Exchange said, “I think it’s basically the markets are now really bearish on Spanish and Italian debt.” Yields on 10-year Spanish bonds rose to 6 percent for the first time since last year. “Spain is basically hostage to bond investors. What all the yields are showing is that the markets think that if someone needs a bailout, it will be Spain,” Daly added.

When analysts refer to Gold as a safe-haven investment, they are not always referring simply to economic turmoil. Geopolitical tensions can also cause a boost in Gold’s appeal, such as the current situation with North Korea. After that country’s rocket failure last week, the U.S. is looking at “all options” to stop North Korea from conducting a third nuclear test. The U.S. already has halted food aid for the country after an agreement was broken by the aforementioned rocket launch.

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

  • Gold – $1,654.10 – Up $3.90.
  • Silver - $31.77 – Up $0.34.
  • Platinum - $1,575.10 – Up $0.30.
  • Palladium - $654.10 – Up $2.40.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays, and until 5 p.m. (CDT) on Fridays! 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.

« 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