Morning Gold & Silver Market Report – 9/21/2012

GOLD MOVES UP; TALK OF MORE STIMULUS FORTHCOMING

Gold is continuing to rise following the abundance of economic stimulus in the global economy. Many central banks around the world have implemented plans to ease financial issues, including the United States, Europe and Japan. These moves have had a positive impact on Gold’s pricing and they could become a growing trend. “With the open-ended scheme to print as much dollars as needed until the U.S. economy recovers, Gold's uptrend has fewer barricades on the way at least to earlier highs,” Richcomm Global Services senior analyst Pradeep Unni said.

In Europe, there has been an upward swing that has the financial outlook more positive this week. Last week the Euro hit a four and a half month low. This week was a chance to rebound and gain back some of the lost ground. Many financial experts believe it has more to do with politics than the actual economy. “One of the real plus points we have had this week is that there have been no European politicians saying anything stupid, so if that can continue over the coming weeks it will help stabilize markets,” said Alastair McCaig at financial spread betting firm IG index.

In the United States, the talk over the past few weeks has been in regards to the Federal Reserve’s financial stimulus. It has had a positive effect on the markets so far; however there are some that believe there is more to be offered. “They’re sending a message to people making long-term decisions about investment and hiring: Don’t worry about us clamping down, we are going to have accommodative policy even in a stronger recovery,” said Michael Gapen, senior U.S. economist at Barclays Plc’s investment-banking unit and a former member of the Fed’s Division of Monetary Affairs. “They are telling you, ‘We have a long way to go, and we are going to let this run.’”

At 9 am (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,787.90, Up $18.70.
  • Silver, $35.18, Up $0.49.
  • Platinum, $1,646.30, Up $21.40.
  • Palladium, $674.50, Up $13.40.

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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 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD


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