Morning Gold & Silver Market Report, 6/20/2012

FED MONETARY POLICY DECISION EXPECTED TODAY  

American stock futures are trading slightly higher this morning, while the Gold price has dropped. This movement comes ahead of a highly anticipated Federal Reserve policy decision that could bring about a new round of quantitative easing. Nick Beecroft of Saxo Capital Markets U.K. said that while QE is the hope of the markets, the Fed is more likely to announce an extension of Operation Twist, its bond-buying program. “This will probably disappoint equity markets, which seem to be expecting ‘another shot of heroin,’” he said. The Fed announcement is expected at 12:30 p.m. (EDT).

European leaders fleshed out a list of concrete steps to potentially solve its debt crisis at the Group of 20 (G20) summit, with the G20 leaders supporting what the eurozone brought to the table. United States President Barack Obama said that it was clear that the leaders know what steps need to be taken to shore up the debt crisis, adding, “None of them are going to be a silver bullet that solves this thing entirely … in the next week or two weeks or two months, but each step points to the fact that Europe is moving towards further integration rather than breakup.”

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

  • Gold, $1,605.60, Down $18.10.
  • Silver, $28.20, Down $0.27.
  • Platinum, $1,459.90, Down $22.60.
  • Palladium, $624.90, Down $5.50.

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
4/17/2014 2:48:52 PM EST

Metal Bid Ask Change
Gold $1,295.50 $1,297.50 ($8.00)
Silver $19.57 $19.67 ($0.02)
Platinum $1,409.80 $1,419.80 ($18.00)
Palladium $795.00 $800.00 ($3.30)
4/17/2014 2:48:52 PM EST

Click here for Historical Charts*All Charts are in USD


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