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Closing Gold & Silver Market Report – 12/9/2013

ECONOMISTS BELIEVE THE U.S. ECONOMY WILL MAKE A HEALTHY RECOVERY

The National Association of Business Economics quarterly survey surprisingly reflected an optimistic view from economists who believe the U.S. economy will improve in 2014.  It is expected that the unemployment rate will continue to fall next year as 200,000 new jobs will be created each month.  The creation of new jobs will provide assistance to households who are looking for some relief to make ends meet and drive spending, which will help boost the U.S. recovery. 

The next Federal Reserve policy committee meeting is quickly approaching and is set for December 17-18 with high hopes from investors that tapering will be the main focus.  “A small taper might recognize labor market improvement while still providing the [Fed] the opportunity to carefully monitor inflation during the first half of 2014,” James Bullard, the president of the St. Louis Federal Reserve Bank, said.  Richmond Fed President Jeffrey Lacker shared his disbeliefs on fiscal policy saying it does not boost economic growth and if the Fed continues to purchase more assets it will only add to the Fed’s balance sheet.  

At 4:55 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,242.20, Up $10.70.
  • Silver, $19.90, Up $0.33.
  • Platinum, $1,375.70, Up $17.40.
  • Palladium, $736.80, Up $0.60.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would 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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