Morning Gold & Silver Market Report 5/21/2012

GOLD, SILVER PRICES SLIGHTLY OFF IN MORNING TRADING   

Markets continue to monitor news coming out of the eurozone. Greece wants a new deal with less austerity, but there are no signs Germany is willing to give in. Of course, Greece is not the only problem. Investors will watch Spanish banks for any signs of additional weakness. There are those who are concerned there could be runs on the banks.

Eurozone leaders will meet informally in Brussels, Belgium, this week. French President Francois Hollande is expected to propose the idea of a Eurobond. Eurobonds would be jointly underwritten by all eurozone members. Germany is reluctant to support such a measure until other member states have their financial houses more in order. If such bonds were to be written, it would place Germany in a position of financing the debt of other states.

The leaders of the Group of Eight met over the weekend at Camp David. They all agreed that Greece should stay in the eurozone and they agreed “on the importance of a strong and cohesive eurozone for global stability and recovery.”

The continued uncertainty in Greece has caused the euro to give up the small gains it had achieved against the dollar. This largely accounts for weaker openings for Gold and Silver.

At 9 a.m. (EST), the APMEX Precious Metals prices were:

  • Gold, $1,589.20, Down $4.20.
  • Silver, $28.31, Down $0.48.
  • Platinum, $1,461.80, Up $0.50.
  • Palladium, $613.30, Up $7.70.

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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 1:12:27 AM EST

Metal Bid Ask Change
Gold $1,285.50 $1,287.50 $0.90
Silver $19.39 $19.49 $0.01
Platinum $1,394.50 $1,404.50 $0.60
Palladium $781.80 $786.80 ($0.30)
4/24/2014 1:12:27 AM EST

Click here for Historical Charts*All Charts are in USD


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