Mid-Day Gold & Silver Market Report – 12/1/2011

SUPER COMMITTEE WORK MIGHT RESUME     

The Gold price is down marginally since the Morning Gold & Silver Report, with the continued confusion on what is actually happening in the European debt crisis. In an interview with Money & Investing Editor Jonathan Burton from Market Watch, Adrian Day, president of investment firm Adrian Day Asset Management, reflected on reasons why people have been buying Gold the past two years, citing “concern and distress of fiat currency paper money.” Day said, “Gold is a solid asset which is going up.

The agreement of major central banks to come to Europe’s aid possibly could backfire and pose a risk to U.S. economic expansion. James Bullard, president of the Federal Reserve Bank of St. Louis, said, “I think we can grow somewhat stronger in 2012 than we have in the second half of 2011. The real question is what is this tail risk in Europe and how big is this tail risk coming from Europe.”

The congressional Super Committee might get back to work to try to cut the deficit. House Minority Whip Steny Hoyer told CNBC that he would like a 90-day extension for the Super Committee to reach an agreement. Speaking of the Super Committee’s work to this point, the Maryland Democrat said, “That was a balanced package. All of it would have caused pain and discomfort politically and in real terms to people. … But that's what we have to pursue if we want to get back to a sustainable path. We’re going to continue to work,” he said of the full Congress. “We’re going to continue to focus and continue to get it done and work on it over the coming months and not wait simply for the next election because, frankly, there’s always a next election. We cannot wait.”

At 12:08 p.m. (CST), the APMEX precious metals spot prices were:

  • Gold - $1,736.40 – Down $11.90.
  • Silver – $32.70 – Down $0.09.
  • Platinum - $1,558.50 – Down $3.30.
  • Palladium - $629.40 – Up $16.80.

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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 3:03:29 PM EST

Metal Bid Ask Change
Gold $1,295.30 $1,297.30 ($8.20)
Silver $19.56 $19.66 ($0.03)
Platinum $1,410.50 $1,420.50 ($17.30)
Palladium $793.80 $798.80 ($4.50)
4/17/2014 3:03:29 PM EST

Click here for Historical Charts*All Charts are in USD


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