Closing Gold & Silver Market Report, 6/19/2012

WHAT WILL BE GOLD’S NEXT MOVE? POTENTIAL QE3 ANNOUNCEMENT WEDNESDAY   

Precious Metals prices have remained stable throughout the day following this morning’s trends with little movement. Federal Reserve Chairman Ben Bernanke is set to hold a news conference Wednesday, where additional easing measures are expected to be announced. Anne-Laure Tremblay from BNP Paribas wrote in a note to clients, “Probable actions include interest rate cuts by the European Central Bank and the People’s Bank of China (and) further quantitative easing by the Federal Reserve,” she said, adding that such action would likely support Gold buying. “Quantitative easing, or an expansion of a central bank’s balance sheet, is more favorable for Gold prices … (as it) tends to have a strong negative impact on the U.S. dollar and is also more likely to raise inflationary expectations.”

As the Federal Reserve continues its two-day policy meeting tomorrow with a hopeful resolution to stimulate America’s economy analyst Dick Bove is patiently waiting, but not quietly. Bove considered what a third round of quantitative easing would actually do for the financial system he said, “It seems clear that the United States economy’s growth is slowing and that the global economy is facing major challenges. This suggests a need for some action by the Federal Reserve and other central banks,” Bove said in a note to clients. “It also appears to be just as evident that lowering interest rates to zero and printing more money are not effective options.”

At 5:01 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,619.50, Down $8.00.
  • Silver, $28.47, Down $0.30.
  • Platinum, $1,481.50, Down $4.60.
  • Palladium, $630.40, Down $3.80.

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.

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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
4/25/2014 2:02:13 AM EST

Metal Bid Ask Change
Gold $1,291.70 $1,293.70 $1.10
Silver $19.51 $19.61 ($0.14)
Platinum $1,402.60 $1,412.60 $3.00
Palladium $798.50 $803.50 $0.20
4/25/2014 2:02:13 AM EST

Click here for Historical Charts*All Charts are in USD


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