Closing Gold & Silver Market Report – 12/20/2012


Precious Metals prices fell today as hedge funds were liquidated and the U.S. economy reflected more growth than forecasted. “There is a concern among the hedge funds that they will have more redemptions because of the fact that they underperformed the markets this year as a whole,” Jeffrey Sica, chief investment officer of SICA Wealth Management, said. As the country appears more stable, the market believes it could affect further quantitative easing. “The GDP number was better than forecast, so the thinking is that improving conditions in the economy might mean a light at the end of the tunnel on when the Fed will end QE3,” Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago.

The National Association of Realtors reported today that existing home sales jumped 5.9 percent in November. Although it’s been difficult for the housing market to make a full recovery since the recession in 2007, it is beginning to progress as a healthier unemployment rate has been reported this year. “The indicators reflect an economy that remains weak in the face of strong domestic and international headwinds as it faces the fiscal cliff,” Ken Goldstein, an economist at the Conference Board, said. “Growth will likely be slow through the early months of 2013.”

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

  • Gold, $1649.40, Down $18.80.
  • Silver, $30.00, Down $1.12.
  • Platinum, $1553.00, Down $41.90.
  • Palladium, $679.60, Down $18.70.

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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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 8:59:07 AM EST

Metal Bid Ask Change
Gold $1,301.30 $1,303.30 ($2.20)
Silver $19.57 $19.67 ($0.01)
Platinum $1,428.80 $1,438.80 $1.00
Palladium $796.80 $801.80 ($1.60)
4/17/2014 8:59:07 AM EST

Click here for Historical Charts*All Charts are in USD

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