Morning Gold & Silver Market Report – 11/26/2012

CYBER MONDAY vs. GREECE AND THE FISCAL CLIFF

U.S. stock futures look to start lower today. Negotiations will continue today between the President Obama and top congressional leaders as they try to come to terms on upcoming tax increases and spending cuts, otherwise know as the Fiscal Cliff. Greece is still in the news as the euro-area finance ministers are in discussion over the next round of aid for the country’s distressed economy. Henrik Drusebjerg, senior strategist at Nordea Bank said, “We could see U.S. markets start positively, but they’re a bit nervous about Greece.”

Today, if you weren’t already aware, is Cyber Monday, a term that was coined back in 2005. Economically, it is a boost to the retail sector as was Black Friday and Small Business Saturday. It’s estimated that today’s Cyber Monday will be the biggest online shopping day of the year for the third year in a row, up 20 percent from last year.

The Gold price stayed near its five week high in overnight trading even after the dollar strengthened. Edel Tully, an analyst at UBS AG in London said, “The uncertainties surrounding the euro group meeting on Greece have impacted the euro-dollar and in turn Gold.”

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

  • Gold, $1,753.40, Up $0.00.
  • Silver, $34.21, Up $0.03.
  • Platinum, $1,616.80, Down $1.30.
  • Palladium, $670.00, Up $1.40.

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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 3:07:43 AM EST

Metal Bid Ask Change
Gold $1,299.10 $1,301.10 ($4.50)
Silver $19.53 $19.63 ($0.05)
Platinum $1,429.00 $1,439.00 $1.20
Palladium $797.50 $802.50 ($0.90)
4/17/2014 3:07:43 AM EST

Click here for Historical Charts*All Charts are in USD


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