Mid-Day Gold & Silver Market Report – 11/21/2012

GOLD, STOCKS UP SLIGHTLY AS MIDDLE EAST, DOMESTIC NEWS WEIGH ON MARKETS

Gold continues to float in the $1,720 - $1,730 range as we approach the holiday weekend. Though failure to reach a lending agreement in Greece was disappointing for investors who will need to wait until next week for further news, there is a vague sense of optimism regarding U.S. economic recovery. Federal Reserve Chairman Ben Bernanke boasted his hopes for the U.S. on Tuesday by stating that 2013 could be a “very good year” for the economy.

Along with Precious Metals prices, the U.S. stock market is up slightly ahead of Thanksgiving as investors felt a tinge of confidence in reports that discussions regarding the end-of-year fiscal cliff are going well. However, global factors are still able to weigh on the U.S. economy as escalating tension in the Middle East is modestly elevating demand for Gold as a secure investment in times of uncertainty. “Physical demand is showing some strength,” Frank Lesh, a trader at FuturePath Trading in Chicago, said. “Middle East tension is also pushing some people towards Gold.”

At 1 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,731.90, Up $6.30.
  • Silver, $33.39, Up $0.39.
  • Platinum, $1,584.40, Up $10.40.
  • Palladium, $653.10, Up $13.80.

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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
4/16/2014 6:15:36 PM EST

Metal Bid Ask Change
Gold $1,302.50 $1,304.50 ($1.00)
Silver $19.61 $19.71 $0.03
Platinum $1,426.50 $1,436.50 ($1.30)
Palladium $800.00 $805.00 $1.70
4/16/2014 6:15:36 PM EST

Click here for Historical Charts*All Charts are in USD


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