Morning Gold & Silver Market Report, 8/13/2012

GOLD, SILVER HOLDING ON TO RECENT GAINS  

Precious Metals and equity markets were flat this morning as concerns about global growth continue to provide headwinds. Japan’s economy only grew by 1.4 percent, when it was projected to grow at 2.5 percent. Markets were down initially but have recovered on new hopes for further intervention by central banks around the globe.

France, the United States and Mexico (which holds the G20 presidency) will hold a conference call at the end of August to discuss whether an emergency international meeting should be called regarding soaring grain prices. The worst U.S. drought in 50 years is causing grain prices to rise to unprecedented heights. Benchmark Chicago corn has climbed to all time heights, which could send food prices soaring, as well. This committee will seek to avoid a repeat of the food price crisis of 2008.

Google plans to cut 4,000 jobs from its recently acquired Motorola division. This represents about 20 percent of the Motorola staff. About 65 percent of these cuts will come from outside the United States. Google will close about 30 of Motorola Mobility’s 90 facilities, as it seeks to simplify the wireless product offerings.

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

  • Gold, $1,620.50, Down $0.80.
  • Silver, $28.06, Down $0.11.
  • Platinum, $1,402.50, Up $1.60.
  • Palladium, $582.60, Down $1.10.

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 12:46:21 AM EST

Metal Bid Ask Change
Gold $1,292.00 $1,294.00 $1.40
Silver $19.50 $19.60 ($0.15)
Platinum $1,401.50 $1,411.50 $1.90
Palladium $797.20 $802.20 ($1.10)
4/25/2014 12:46:21 AM EST

Click here for Historical Charts*All Charts are in USD


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