Closing Gold & Silver Market Report - 4/23/2012
ANALYST STAYS POSITIVE ON AMERICAN ECONOMY
As the dollar strengthened today, it pushed the price of Gold down just a bit. But Gold put up a good fight and has remained steady since the Mid-Day Gold & Silver Market Report. Frank McGhee at Integrated Brokerage Services reflected on the market and how investors are responding. McGhee said, “There is gloom, and people want to move into cash. The production numbers out of China have depressed market sentiment.”
The direction of the economy in the United States has been on everyone’s mind. Most experts are frustrated with the uncertain economic data that has been reported over the past several weeks. For instance, the number of people applying for jobless benefits has increased, while home sales and the manufacturing sector have both weakened. “The U.S. economy should continue a slow recovery,” said analyst Steven Leslie at the Economist Intelligence Unit. “We continue to have a positive outlook, though certainly not an effervescent one.”
At 5 p.m. (EDT), the APMEX precious metals spot prices were:
- Gold - $1640.00 - Down $3.30.
- Silver - $30.91 - Down $0.81.
- Platinum - $1560.00 - Down $23.20.
- Palladium - $673.00 - Down $5.00.
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.