Mid-Day Gold & Silver Market Report – 8/19/2011

RECESSION, MAYBE – MAYBE NOT

Gold and silver prices have remained relatively even during the trading day. For the day, gold is up $31.40 and silver is up $2.15. The rise is relative to the overall concern that stocks are pricing in a potential recession, which heightens the demand for safe havens.

However, according to Abby Joseph Cohen, a senior investment strategist with Goldman Sachs, the stock market may price in a recession, but a recession is not likely. She says, “Let’s be very clear, there are some fundamental worries, but our feeling is the valuation of the U.S. stock market is already pricing in a rather ugly scenario. There are many different ways to look at the mathematics of valuation, but one of them is to say at these levels on the [Standard & Poor's 500] what’s priced in is many years of no earnings growth. That does not seem to us to be the most likely scenario."

Middle East concerns are not subsiding despite a proclamation from the Syrian President Bashar al-Assad that a crackdown on protests was over, yet deaths continue to mount in the country. The fighting continues in Libya, as a serious counter-attack was launched by Muammar Gaddafi to help push back rebel advances.

At 12:12 PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,857.60 – up $33.60
  • Silver price - $42.52 - up $0.95
  • Platinum price - $1,877.10 – up $29.40
  • Palladium price - $751.10 – down $3.10

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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
4/21/2014 10:50:12 AM EST

Metal Bid Ask Change
Gold $1,286.20 $1,288.20 ($7.70)
Silver $19.31 $19.41 ($0.24)
Platinum $1,393.70 $1,403.70 ($25.00)
Palladium $769.50 $774.50 ($33.60)
4/21/2014 10:50:12 AM EST

Click here for Historical Charts*All Charts are in USD


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