Morning Gold & Silver Market Report - 4/23/2012
GOLD PRICES FALL ALONG WITH STOCK FUTURES
European concerns again are taking center stage, as attention is focused on the French presidential election and the potential political and economic collapse in the Netherlands. In France, Socialist leader Francois Hollande won the first round of elections over incumbent Nicolas Sarkozy. The markets widely viewed an election won by the challenger as a blow to the European recovery. In the Netherlands, which is a core eurozone member, the government has failed to agree on budget cuts, thus making elections unavoidable and casting doubt that the Netherlands will support further eurozone initiatives.
Gold and Silver prices are falling as the United States dollar rose in response to the new concerns flowing from the eurozone and the continued suspicion that the Chinese economy is cooling. Stock markets around the globe are getting hammered.
At 9 a.m. (EDT), the APMEX precious metals spot prices were:
- Gold - $1,630.30 - Down $13.00.
- Silver - $30.76 - Down $0.97.
- Platinum - $1,556.90 - Down $26.30.
- Palladium - $667.60 - Down $10.30.
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