Our Daily Gold & Silver
Market Reports

Closing Gold & Silver Market Report – 7/01/2011

JULY IS IN LIKE A BEAR FOR GOLD – The precious metals market saw losses across the board today as strong manufacturing data out of the U.S. and a positive sentiment from the EU on Greek debt encouraged investors to move into other investments.  Jim Steel, a metals analyst with HSBC in New York said, “It’s really in line with the overall commodity decline.”  Other commo... Read More

Mid-Day Gold & Silver Market Report – 7/1/2011

Precious metals are trading lower today, partially due to the release of the June ISM factory index increase to 55.3%, which eased fears of a double-dip recession.  GM posted a 10% jump in their June car sales.  But we are not out of the woods yet; the... Read More

Morning Gold & Silver Market Report – 7/1/2011

METALS DOWN AS INVESTORS AWAIT REPORTS Stock futures are flat while precious metals trade down as investors await a key manufacturing index’s release later this morning.  Analysts are expecting the Institute for Supply Management’s June manufacturing index to remain close to 53%. Morten Kongshaug of Danske Bank explained th... Read More

Closing Gold & Silver Market Report – 6/30/2011

GOLD CLOSES THE QUARTER ON A HIGH NOTE – Although these past few days have seen the metal retreat, for the quarter gold gained 4.4%.  In fact, gold gained 3.1% more than it did in the first quarter of the year.  So far this year, gold has been supported by geopolitical fears caused by uprising in North African and Middle Eastern countries, the natural disaster in Japan and the nuc... Read More

Mid-Day Gold & Silver Market Report – 6/30/2011

CHINA’S HAND IN THE COOKIE JAR; QE2 WORTH IT? In a report released today, it was announced why Treasury auction rules changed back in 2009. The Treasury Department changed their procedures then to allow for more transparency in the purchase of U.S. government debt through bond auctions. They handled the change dip... Read More

Morning Gold & Silver Market Report – 6/30/2011

JOBLESS CLAIMS FALL (BARELY); OBAMA CALLS FOR STIMULUS AND COMPLICATES DEBT TALKS The weekly jobless claims report was released this morning and showed a drop of 1,000 from last week.  Economists, who are constantly wrong on this subject, had expected a drop of 4,000.  The unemployment rate is one reason President O... Read More

Closing Gold & Silver Market Report – 6/29/2011

Precious metals continue to rally today on news of Greece’s parliament voting to push austerity measures and the ever-approaching U.S. debt ceiling.  Obama’s speech consisted of reiteration on the need to have both parties compromise and “get it done,” while emphasizing that both parties should be prepared to “take on their sacred cows” in the negotiation process. In spite of the fact t... Read More

Mid-Day Gold & Silver Market Report – 6/29/2011

BAILOUT SET FOR GREECE, IS U.S. NEXT? Greek Prime Minister George Papandreou was able to garner enough votes to pass the first part of the austerity plan for bailout by the EU. The vote means that the implantation, which is the second measure, should pass without issue. The margin of voting was actually quite a bit larger than the con... Read More

Morning Gold & Silver Market Report – 6/29/2011

DO OR DIE FOR GREECE, DOLLAR LOSING GLOBAL RESERVE STATUS Stock futures are trading higher this morning along with precious metals as the world awaits the big vote in Greece.  The Associated Press ... Read More

Closing Gold & Silver Market Report – 06/28/11

LAGARDE IS THE NEW HEAD OF THE IMF – It didn’t require a vote once the U.S. officially gave their support to Christine Lagarde.  She was selected by consensus to become the next Managing Director of the International Monetary Fund (IMF).  Lagarde has been quoted saying, “The IMF must be relevant, responsive, effective and legitimate to achieve stronger and sus... Read More

Mid-Day – Gold & Silver Market Report – 6/28/2011

GREECE IS THE WORD Greece continues to be a major news topic for the day. The Germans are backing the French plan for the rollover of Greek debt. Any plan for a rollover, however, requires credit rating agencies (Fitch, Moody’s, etc.) to not put Greece into a default status. The issue with this is that ... Read More

Morning Gold & Silver Market Report – 6/28/2011

AHEAD OF VOTE, IS EU THINKING OF PLAN B FOR GREECE? Following suit with oil, precious metals have rebounded this morning, possibly signaling an end to the selloff that started late last week.  Concern over the debt crisis in Greece is supporting demand for the safe-haven asset of gold.  Most analysts are ac... Read More

Closing Gold & Silver Market Report – 6/27/2011

GOLD ATTEMPTS TO HOLD $1500, HURT BY DEMAND FOR DOLLAR – Gold was down today, amid rising demand for the U.S. dollar.  The dollar rose in FOREX trading today on fears of the euro zone debt crisis.  A stronger dollar tends to push down on commodities, and gold is no exception.  Neither is oil, which dropped again.  A high oil price can weigh on the economy due h... Read More

Mid-Day Gold & Silver Market Report – 6/27/2011

U.S. BOND BUYING TO CONTINUE? WARRANT ISSUED FOR GADDAFI The Federal Reserve may continue to purchase Treasury bonds once QE2 comes to an end. The reinvestment into the bonds could pump as much as $300 billion towards the government debt without adding currency, or printing money to cover investment. The purchases are a means of support as Congress con... Read More

Morning Gold & Silver Market Report – 6/27/2011

CAN OBAMA RESTART DEBT CEILING TALKS? U.S. stock futures are holding on to mild gains this morning amid the release of consumer spending data, which remained flat and is the weakest in almost a year.  The dollar has recovered against the euro, which caused gold to give up its very modest early-morning gain... Read More

Closing Gold & Silver Market Report – 6/24/2011

IS THERE NOW A FEAR OF DEFLATION? Precious metals continue to trade lower today as a result of continued selloffs due to the markets being lower and on continued news of geopolitical turmoil. Treasury yields fall to a 2011 low on worries of the European debt crisis and Read More

Mid-Day Gold & Silver Market Report – 6/24/2011

SELLOFF CONTINUES; WILL AUSTERITY EVEN MATTER IN GREECE? Gold prices are down again today amid “merely follow-through selling after yesterday’s strong drop,” says Brien Lundin with the Gold Newsletter.  For the second day in a row, most stock prices are down as well as gold, going against the historically negative correlation the two share.&... Read More

Morning Gold & Silver Market Report – 6/24/2011

CONGRESSIONAL IMPASSE, DEADLINE LOOMING Vice President Joe Biden has been leading a small group of Democrats and Republicans in an initiative to come to a bi-partisan agreement on raising the U.S. debt limit by August 2. It appears any chance of an agreement broke down on Thursday, when Republicans walked out on the budget talks. The group quit unexpectedly over what the... Read More

Closing Gold & Silver Market Report – 6/23/2011

GREECE’S AUSTERITY PLAN APROVED, BAILOUT IMMINENT – The IMF and EU approved Greece’s plan for proposed austerity measures this afternoon, which opens the door for an emergency bailout to aid Greece’s bankrupt government.  The austerity package is comprised of a mixture of tax increases and cuts in spending.  The measure still has to be approved by the Greek parliament, where ... Read More

Mid-Day Gold & Silver Market Report – 6/23/2011

STOCKS, OIL, GOLD ALL DOWN AS INVESTORS COVER LOSSES The markets are all sharing a down day, with oil down 5%, gold 2%, and stocks down significantly as well.  The story with oil is that International Energy Agency (IEA) has released 60 million barrels to make up for lost production in Libya.  For gold, the markets are seeing a selloff in order to co... Read More

Morning Gold & Silver Market Report – 6/23/2011

JOBS REPORT = BROKEN RECORD, APMEX CEO ON CNBC The U.S. stock market was already heading for a weak opening, and this morning’s jobs report may support further declines. Once again the numbers are disappointing, as initial claims for state unemployment benefits rose by 9,000 when they were expected to drop by 1,000. The number now sits at 429,000. Federal Reserve Chairman, Ben Bernanke gave no cl... Read More

Closing Gold & Silver Market Report – 06/22/2011

TO QE3 OR NOT TO QE3, THAT IS THE QUESTION Precious metals are still up this evening as Federal Reserve Chairman Ben Bernanke spoke about the economy. When Bernanke speaks the markets tend to move. This time the stocks were down and precious metals were up. Ironically, the dollar was up against the euro and yen, but this was because he Read More

Morning Gold & Silver Market Report – 06/22/2011

GREEK PARLIAMENT GETS CONFIDENCE VOTE BUT STOCKS BACK OFF AS METALS CLIMB As expected, the recently reshuffled Greek parliament survived yesterday’s confidence vote. Now that the first small hurdle has been cleared, a much larger hurdle looms on June 28. This is the date the parliament must approve a package of spending cuts, tax increases and state asset sales in accordance with the bailout conditions i... Read More

Closing Gold & Silver Market Report – 6/21/2011

Citigroup Sees Gold Prices Rise to $1600 in 2011 Citigroup announced their gold price forecast for the balance of 2011 and are forecasting $1600 per oz. Stuart Staley; Citigroup’s global head of commodities further stated that gold prices could climb by 15 to 20 percent in the upcoming two years. This same sentiment was expressed by the ... Read More

Mid-Day Gold & Silver Market Report – 6/21/2011

MARKETS UP IN ANTICIPATION OF GREEK PARLIAMENT VOTE – Stocks and precious metals rose this morning in anticipation of a vote of confidence in Greece’s Prime Minister, George Papandreou.  The general consensus is that Papandreou is expected to win the vote, which brings Greece one step closer to a bailout package.  Papandreou is in favor of the economic reforms that ... Read More

Morning Gold & Silver Market Report – 6/21/2011

MAJOR CONFIDENCE VOTE IN GREECE TODAY, FITCH THREATENS U.S. RATING U.S. stock futures are up this morning, pointing to a higher opening for Wall Street amid optimism over the situation in Greece.  Prime Minister George Papandreou is expected to hold a major confidence vote in parliament today, and strategists at Lloyds TSB ... Read More

Closing Gold & Silver Market Report – 6/20/2011

EUROPEAN UNITY OF PURPOSE SOUGHT The news of the day still involves Greece. The Greek debt crisis is reaching its boiling point. The vote of the finance ministers ended without the resolution a number of investors had been seeking. The reach of the austerity measures is quite vast. There are talks of further real estate taxes, restaurant bills, soft drinks, swimming pools, and even layoffs within a five-year period. Thes... Read More

Mid-Day Gold & Silver Market Report – 06/20/2011

MARKETS RECOVER AS GREEK FEARS DIMINISH Both the precious metals and equity markets are recovering from morning losses, as the eurozone finance ministers gave Greece two weeks from Monday to approve stricter austerity measures, if they want to receive an emergency loan of 12 billion euros. “Even though the EU is tal... Read More

Morning Gold & Silver Market Report – June 20, 2011

STILL NO DECISION IN GREECE SENDS MARKETS LOWER A decision on a second bailout for Greece was expected to be announced on Sunday, but no decision has been made, as the euro zone finance ministers are determined to get tougher austerity commitments out of Greek’s parliament. The finance ministers are not only looking for support from the Greek government; they want a plan supported by the opposition. This... Read More

Closing Gold & Silver Market Report – 6/17/2011

STOCKS FINALLY BREAK STREAK, MIDDLE EAST TENSIONS GROW U.S. stocks ended their six-week losing streak today, ending mildly higher amid mixed-results reports about the economy and potential progress in Europe to prevent a Greek debt default.  To add to the speculative state of the U.S. economic recovery, former presidential advi... Read More

Mid-Day Gold & Silver Market Report – 6/17/2011

Precious metals are trading higher today despite a rally in U.S. stocks. The possibility of Greece defaulting on their debt has been on the lips of every news source for a while now as people wait anxiously for answers. Many say they will and many say they won’t, but almost all agree that, like t... Read More

Morning Gold & Silver Market Report – 6/17/2011

GERMANY & FRANCE UNITED ON GREEK BAILOUT - At around 6AM (CT), world equity markets and the U.S. stock market futures began to rise sharply on the news that leaders from France and Germany are united on a new bailout package for Greece. This new package would include voluntary private sector participation based on a 2009 European agreement called the “Vienna Initiative”. German Chancellor Angela Merkel supported this approac... Read More

THE MARKET RECOVERS ON U.S. ECONOMIC DATA

U.S. stocks, gold, and silver recovered today after yesterday’s 100+ point drop in the Dow.  Better than estimated housing starts and jobless claims have been given credit for the recovery.  The continuing saga out of Greece injected enough uncertainty, as it has been for some time, to keep the recovery in check.  Jonathan Corpina... Read More

Mid-Day Gold & Silver Market Report – 6/16/2011

GOLD AND SILVER YO-YO, IMF VOWS CONTINUING SUPPORT OF GREECE Gold and silver have had a jumpy day, so far, but ultimately have remained flat.  The jobless claims report released this morning didn’t have much of an impact on precious metals, but it did seem to boost U.S. stocks. Also helping stocks was the claim from the International Monetary Fund that th... Read More

Morning Gold & Silver Market Report – 6/16/2011

JOBS REPORT BETTER THAN EXPECTED, BUT THERE IS NO CELEBRATION -  The U.S. jobs report was released this morning and jobless claims fell last week to 414,000. This fall in jobless claims was 6,000 more than expected . Although this is a pleasant surprise there is no celebration. The moving average is still well above 400,000 and the June numbers are not expected to look much different than the dismal May numbers. The jobs pi... Read More

Closing Gold & Silver Market Report – 6/15/2011

GREECE’S GOVERNMENT FAILS – Greek Prime Minister George Papandreou has said in a televised address that he plans to form an new government later this week.  Thousands of workers in Greece went on strike, and an estimated 40,000 people took to the streets in protest of new cutbacks and higher taxes.  Images of riot police clashing with citizens, eerily reminiscent ... Read More

Mid-Day Gold & Silver Market Report – 6/15/2011

INFLATION INCREASES GOLD’S APPEAL Precious metals have been up and down in morning trading. Prices started lower in anticipation of the release of the Consumer Price Index (CPI) numbers and then jumped up once they announced that it was higher than expected, up 0.3% or 3.6% annualized. This is the largest gain since July 2008, when the economy was hit the hardest in t... Read More

Morning Gold & Silver Market Report – 6/15/2011

STOCKS, EURO TUMBLE U.S. stock futures pointed south awaiting the latest round of economic reports, and fell sharply once the reports were released. Even the core consumer prices rose by 0.3%, the largest one-month gain in nearly three years. The core prices are typically a better indicator of inflationary trends since they strip away the volatil... Read More

Closing Gold & Silver Market Report – 6/14/2011

ROLLER COASTER MARKET BOUNCES – Following Friday’s sell off, many investors went bargain shopping today, causing most major stock indices and commodities to rise.  A falling dollar came along with a jump in gold prices, buoyed by fears that an economic recovery will bring further declines in the value of the dollar.  Could China’s currency be... Read More

Mid-Day Gold & Silver Market Report – 6/14/2011

CHINA FEARFUL OF GREECE, MIDDLE EAST WORSENS After S&P cut Greece’s credit rating yesterday, European finance chiefs have come together to work on plans for rescuing Greece. The issue still boils down to whether Greece will default. If you listen to Vincent Truglia, managing director at New York-based Granite Springs Asset Management LLP and a former head of the sovereign risk unit at Moody’s, Read More

Morning Gold & Silver Market Report – 6/14/2011

REPORTS FINALLY COME IN AS EXPECTED, MARKETS ALL UP Most economists expected a drop in the retail sales report for May of anywhere between 0.3% to 0.7% when automobile sales were included.  The report released this morning showed that the fall was 0.2% with auto sales considered, but up 0.3% when they were excluded.&#... 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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