Morning Gold & Silver Market Report – 2/25/2013

GOLD PRICE FINDS SUPPORT IN PHYSICAL BUYING

Last week, Gold hit a seven month low, which most economists expected would trigger an increase in physical purchasing of the yellow metal. This morning has shown that the Gold price got to a level buyers could no longer ignore. While there is still uncertainty in the marketplace, there is a growing sentiment that the price of Gold is moving upwards. "After the drop, hopefully the worst is over for Gold, although the support is still at $1,527. I believe (after) a break above $1,585, you might see a trend that it should test $1,600," managing director of GoldSilver Central Pte Ltd in Singapore Brian Lan said. While the lower prices have changed some outlooks for the coming year, the long term is still positive. "While we have downgraded our near-term views, Gold prices should accelerate in the second half on improving demand from India and China."

The discussion of the United States Federal Reserve stimulus policy was in full force last week. There are two sides to the Fed’s stimulus program and both arguments have merit. “The rate-sensitive sectors, most notably housing and autos, are kicking into a higher gear,” Mark Zandi, chief economist for Moody’s Analytics Inc. in West Chester, Pennsylvania, said. “This reflects the Fed’s aggressive monetary policy and resulting rock-bottom interest rates,” along with “working off the excesses of the boom and bubble.” While there have been many positive indications from various reports, some economists are not sold on the progression. “This makes a weak economy significantly weaker,” Martin Feldstein, an economics professor at Harvard University, stated regarding the policies of the Fed. Feldstein believes that the moves are a temporary fix that will not solve the long term issues facing the economy.

At 9:04 a.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,587.30, Up $13.00.
  • Silver, $28.99, Up $0.47.
  • Platinum, $1,621.50, Up $13.10.
  • Palladium, $749.20, Up $12.90.

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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
4/25/2014 2:38:48 AM EST

Metal Bid Ask Change
Gold $1,291.30 $1,293.30 $0.70
Silver $19.53 $19.63 ($0.12)
Platinum $1,403.70 $1,413.70 $4.10
Palladium $798.00 $803.00 ($0.30)
4/25/2014 2:38:48 AM EST

Click here for Historical Charts*All Charts are in USD


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