Morning Gold & Silver Market Report – 3/23/2012

STOCKS DECLINE NOT SURPRISING; EASY MONETARY POLICY COULD BE DETRIMENTAL TO U.S.

U.S. stock futures are pointing towards an uneventful start for Wall Street this morning.  Unease has entered the markets, and Rebecca O’Keefe of Interactive Investor isn’t shocked.  “The six-month equity rally has been built on lower-than-normal volumes, so investors are worried that the foundations are not as strong as they might be; and with some markets reaching four-year highs, it is not a surprise that some money is being taken off the table,” she said.  New-home sales data set for release later this morning may have an effect on the markets.

St. Louis Federal Reserve President James Bullard said recently that the Fed “over-committing” to easy monetary policy could be detrimental.  He said, “Some of the further actions that could be undertaken at this juncture would have effects far into the future, in an environment of continual improvement and repair for the U.S. economy.”

The situation in Syria that many are calling a humanitarian crisis continues to worsen.  The resistance stronghold city of Homs was hit with mortars overnight, and the death toll climbed by another 40 after clashes across the country.  In a latest attempt to reach Syrian President Bashar al-Assad, EU sanctions have been placed on the president’s wife and mother.

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

  • Gold - $1,654.60 – Up $10.60.
  • Silver - $31.77 – Up $0.38.
  • Platinum - $1,622.80 – Up $9.70.
  • Palladium - $658.30 – Up $6.30.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Monday through Thursday! 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’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

US Dollar Prices are in USD

Precious Metal Prices
4/24/2014 3:28:06 AM EST

Metal Bid Ask Change
Gold $1,285.40 $1,287.40 $0.80
Silver $19.33 $19.43 ($0.06)
Platinum $1,391.80 $1,401.80 ($2.10)
Palladium $782.30 $787.30 $0.30
4/24/2014 3:28:06 AM EST

Click here for Historical Charts*All Charts are in USD


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