Closing Gold & Silver Market Report – 10/25/2012

GOLD FINISHES UP; FUTURE INFLATION POSSIBLE

U.S. stocks closed the day slightly higher on positive reports for the global economy. Gold closed up after finishing Wednesday on a seven-week low. It appears that investors had been wagering on a continued decline in the Precious Metal by selling to take advantage of higher prices. Recent news of the U.S. central bank’s reassurance of its policy on interest rates and increased demand from India has encouraged some domestic buyers to jump back in.

There is a growing sense that U.S. consumers will face higher health care, grocery and other bills in 2013. Scott Hoyt, senior director of consumer economics for Moody’s Analytics is quoted saying, “We think it’s going to be a difficult six to nine months.” The expiration of tax cuts and expected spikes in food prices could put a 0.8 percent dent in economic growth next year.

At 4 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,713.20, Up $11.10.
  • Silver, $32.18, Up $0.54.
  • Platinum, $1,563.30, Up $5.10.
  • Palladium, $604.10, Up $10.40.

APMEX’s Account Managers now have extended hours and are here to serve you until 8 p.m. (EDT) Mondays through Thursdays! 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
4/24/2014 2:29:29 AM EST

Metal Bid Ask Change
Gold $1,284.50 $1,286.50 ($0.10)
Silver $19.35 $19.45 ($0.04)
Platinum $1,392.50 $1,402.50 ($1.40)
Palladium $781.40 $786.40 ($0.70)
4/24/2014 2:29:29 AM EST

Click here for Historical Charts*All Charts are in USD


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