Our Daily Gold & Silver
Market Reports

Morning Gold & Silver Market Report – 8/10/2011

DOES YESTERDAY’S FED STATEMENT MAKE QE3 MORE LIKELY? According to Goldman Sachs, the answer would be yes. In a statement yesterday, chief economist at Goldman, Jan Hatzius said, "we now see a greater-than-even chance that the FOMC will resume quantitative easing later this year or in early 2012. We have changed our call beca... Read More

Closing Gold & Silver Market Report – 8/9/2011

STOCKS RECOVER FROM YESTERDAY’S SELLOFF BUT BERNANAKE SAYS ECONOMY IS AT RISK – Stocks rose sharply today, recovering much of yesterday’s losses.  Gold held steady, still viewed by many as a safe haven asset in times of volatility.  The big news of the day was the release of the report from the Federal Open Markets Committee, a decision-making pan... Read More

Mid-Day Gold & Silver Market Report – 8/9/2011

FED MAY HAVE A LOT TO SAY TODAY The stock market is rebounding on the hope the Federal Reserve will come out with measures to help buoy the current economic condition facing the United States. The meeting is set for later this afternoon (2:15 pm ET) and speculation is mounting that Chairman Ben Bernanke may announce steps to ramp up g... Read More

Morning Gold & Silver Market Report – 8/9/2011

FOMC MEETING TO BRING NEWS OF QE3? U.S. stock futures are pointing to big gains this morning, a day after the 6th-worst drop in the Dow in history.  All eyes are once again on the Fed Open Markets Committee meeting today, as investors await news of another round of quantitative easing.  The FOMC meeting was originally not... Read More

Closing Gold & Silver Market Report – 8/8/11

DOW GIVES UP 634 POINTS – GOLD PRICES SOAR The U.S. stock market plunged today, fueling speculation that the Fed is going to be pressured to take action. This was the worst day since the credit crisis began last Monday and sent the Dow below 11,000. Few expect that the Fed would engage in another round of bond buying, (although it is an option), but they could choose to re-invest proceeds from maturing bonds into ... Read More

Mid–Day Gold & Silver Market Report – 8/8/2011

GOLD CLEARS $1700 AS EQUITY MARKETS SINK Gold prices are surging nearly 3%, as the U.S. Stock market heads the opposite direction. Gold prices continue to climb on the debt fears not only facing the U.S., but in the euro zone as well. The European Central Bank’s (ECB) move to purchase Italian and Spanish bonds has not calmed the markets. “Investors are looking upon the ECB bond-buying as the first steps towards th... Read More

Morning Gold & Silver Market Report – 8/8/2011

FRIDAY NIGHT’S NEWS ROCKS GLOBAL MARKETS After nearly 4 months on CreditWatch Negative, the sovereign credit rating of the U.S. was downgraded by Standard and Poor’s (S&P) late Friday night. Citing political bickering and an insufficient plan to stabilize the economy, the U.S. credit rating was changed to ‘AA+’ from the top-notch ‘AAA’ for the first time in history. S&P was the only one of the three major c... Read More

Closing Gold & Silver Market Report – 8/5/2011

DOLLAR FALLS AGAINST THE EURO; WALL STREET ENDS WORST WEEK SINCE 2008 Media reports out today that the European Central Bank (ECB) plans start purchasing Italian bonds caused the dollar to fall against the euro in trading this afternoon. Other currencies including the franc (Switzerland) and the yen (Japan) also outperformed the dollar as fears about the state of t... Read More

Mid-Day Gold & Silver Market Report – 8/5/2011

POLITICIANS TAKING HEAT FOR DOWNTURNED GLOBAL ECONOMY The root cause of global market conditions is seen by a number of economists as a direct failure of politicians, globally, to tackle their excessive sovereign debt problems. George Magnus, Senior Economic Adviser at UBS in London, said, "People have just become spooked by a crass failure of political leadership…Th... Read More

Morning Gold & Silver Market Report – 8/5/2011

PAYROLLS DATA EASES FEARS, BRINGS SUPPORT TO STOCK MARKET The highly anticipated payrolls report was released this morning, and it showed an increase of 117,000 jobs in July.  The unemployment rate fell .1% to 9.1%.  These numbers were better than expected, finally Read More

Closing Gold & Silver Market Report – 8/4/2011

STOCKS PLUMMET IN MASSIVE MARKET CORRECTION; RECESSION FEARS GROW In what is being called a “full-fledged correction,” stocks plummeted today as a stock market selloff the likes of which hasn’t been seen since the recession in 2009 took place. Investor fears about both the possibility of an imminent recession and the ongoing debt crisis in Europe resulted in a 4.31% drop in the Dow, a 4.... Read More

Mid-Day Gold & Silver Market Report – 8/4/2011

MARGINAL IMPROVEMENT IN JOBS DATA FUELS RECESSION TALK The main concern of economists regarding the jobless claims data is the proximity to the 400,000 range. There does not appear to be any good economic news that would lead them to think there would be a major drop in benefits claims. The downward trend is a step in the right direction, just not... Read More

Morning Gold & Silver Market Report – 8/4/2011

IS WALL STREET SIGNALING A NEW RECESSION? Stock futures are down this morning, and have remained so after the jobless claims report was released.  The report showed a drop in new claims, albeit a small drop, and the four-week moving average fell to its lowest level since April.  Gold and silver are both holding on to gains, gold near a record hi... Read More

Closing Gold & Silver Market Report – 8/3/2011

U.S. CREDIT RATING DOWNGRADES STILL POSSIBLE; GOLD CONTINUES RECORD TRADING Yesterday’s successful passage in Washington of a measure to increase the federal debt limit hasn’t eliminated fears that the U.S. could see a downgrade of its coveted AAA credit rating. Although Moody's Investors Service has said that they Read More

Mid-Day Gold & Silver Market Report – 8/3/2011

SURE A DEBT DEAL IS DONE, BUT… The service sector data, released earlier today put the fear of global recession on the table. World stock markets are taking tremendous hits. The disappointing data is not only U.S.-based, as it also includes Asia and Europe. According to Tom Porcelli, a U.S. Economist at RBC Capital Markets in New York, "Like (with) m... Read More

Morning Gold & Silver Market Report – 8/3/2011

TWO RATINGS AGENCIES KEEP U.S. AT AAA RATING WITH WARNINGS Credit ratings agencies Moody’s and Fitch have said that the U.S. sovereign debt rating will remain unchanged, but both companies said that a downgrade could still come in the future.  Moody’s placed the U.S. rating on a negative outlook, and gave warnings as to what would cause a downgrade.  One of the potential reasons for downgrade ... Read More

Closing Gold & Silver Market Report – 08/02/2011

DEBT LIMIT AGREEMENT PASSES; STOCKS FALL WHILE GOLD RISES After a prolonged fight between Republicans and Democrats, the long-sought measure needed to increase the federal debt limit was signed by President Obama today, after successfully passing in both the House and the Senate. The measure increases the U.S. debt limit until 2013, requires $2.4 trill... Read More

Mid-Day Gold & Silver Market Report – 8/2/2011

DEBT DEAL HAS THE VOTES BUT CAN IT CURTAIL DOWNGRADE TALK? The clearest hurdle to the passage of the debt ceiling measures in Congress boiled down to whether or not certain plans would have enough votes to pass through the House and Senate. The House voted 269-161 yesterday to send it to the Senate, which in the last ho... Read More

Morning Gold & Silver Market Report – 8/2/2011

ECONOMY FEARS OUTWEIGH ‘GOOD’ NEWS OF DEBT DEAL While the dominant story for many weeks has been the U.S. debt ceiling and whether Washington would avoid a sovereign default, now that a deal is seemingly imminent, most investors aren’t paying any attention.  House leaders approved a debt ceiling deal yesterday and a vote is expect... Read More

Closing Gold & Silver Market Report – 8/1/2011

DESPITE DEBT AGREEMENT, UNCERTAINTY RULES MARKET; GOLD IN A BULL MARKET? Conventional wisdom was that, with all signs pointing to an agreement between Democrats and Republicans on raising the federal debt limit, the market would see a boost as business and investor confidence increased. However, today’s reality was that after a brief rally this morning, stocks ended low in the face of uncertainty over whether the terms of the debt deal... Read More

Mid-Day Gold & Silver Market Report – 8/1/2011

DEFAULT FEARS WANE, DOWNGRADE FEARS INTENSIFY A Congressional vote is expected to take place later this afternoon over raising the debt ceiling and is expected to pass with strong bipartisan support. Most markets, global and national, are showing signs of relief by dodging the default concerns from the debt ceiling deadline of August 2.The default concern may be alleviated to ... Read More

Morning Gold & Silver Market Report – 8/1/2011

CONGRESS TO VOTE ON DEBT CEILING DEAL President Barack Obama and congressional leaders came to an agreement on a deal to raise the U.S. debt ceiling  over the weekend.  The deal still has to pass the House of Representatives and the Senate to take effect, and a vote is expected later today.  For now, attention is focused... Read More

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

VOTE ON GOP DEBT PLAN SET FOR 6:00PM TODAY; GOLD FUTURES REACH RECORD HIGH Republican lawmakers have announced that a Congressional vote on House Speaker Boehner’s debt limit plan will take place this evening at 6:00pm ET, with House Majority Leader Eric Cantor saying that the GOP has enough votes to pass it. However, leaders in the Democratic-control... Read More

Mid-Day Gold & Silver Market Report – 7/29/2011

CAN U.S. CONGRESS COMPROMISE? WORLD AWAITS Bipartisan efforts are increasing today, with a vote on John Boehner’s revised plan expected to take place later today. There was concern there would not be enough votes to pass the previous edition yesterday afternoon. John Boehner’s plan is up for consideration, as is a proposal from Harry R... Read More

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

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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