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

LITTLE MOVEMENT FOR GOLD TODAY; POSITIVE OUTLOOK FOR EUROZONE CRISIS

Gold remains flat for the day, and other equities and commodities are down as investors focus on Europe’s financial crisis and the concern that Greece will need a second bailout. “Most of the activity came from CTAs (Commodity Trading Advisors) and hedge funds who were either adding to longs or reversing their shorts. It seems that the expectations for the Fed's planned actions are stronger now than they had been before the election,” Carlos Perez-Santalla, a broker at PVM Futures, said. The future potential distress to the U.S. economy is the quickly approaching fiscal cliff and whether or not politicians will come to an agreement that is satisfactory for all. We’ll keep you updated on the latest news.

A report commissioned by European think tank The Lisbon Council and Germany-based Berenberg Bank reflects good news for the eurozone debt crisis as they suggest the predicament may be contained in 2013 barring any major policy mistakes. “If the eurozone gets through the current acute crisis and stays on the reform path, it could eventually emerge from the crisis as the most dynamic of the major Western economies,” Holger Schmieding, chief economist at Berenberg Bank, said on Monday.

At 5 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,750.70, Down $2.70.
  • Silver, $34.21, Up $0.03.
  • Platinum, $1,615.00, Down $3.10.
  • Palladium, $665.20, Down $3.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EST)! Or call us Fridays until 6 p.m. (EST)! 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
4/17/2014 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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