Mid-Day Gold & Silver Market Report – 12/22/2011

GOLD, SILVER PRICES MODERATELY LOWER    

In a day of little breaking news, precious metals prices have drifted lower in morning trading, while the U.S. stock market has been positive. Banks and the energy markets are leading gainers. The holiday season is traditionally a time of low-volume trading and slower news cycles. We would expect the same this season.

Adrian Day is chairman and chief executive of Adrian Day Asset Management. In an interview today with Geoff Candy, he presented his outlook for Gold in 2012. In short, he maintained his bullish view, but that does not preclude price corrections during the march upward. He said there has been too much short-term attention on Gold, when it should primarily be looked upon as a long-term asset. Day pointed out that Gold prices are not primarily set by U.S. markets. Gold is a global asset, and the two largest purchasers of gold are China and India. As those countries are seeing inflation, the attractiveness of Gold has only gone up, and they are buying.

At noon (CST), the APMEX precious metals spot prices were:

  • Gold - $1,608.20 – Down $5.40.
  • Silver - $29.14 – Down $0.14.
  • Platinum - $1,427.30 – Down $5.40.
  • Palladium - $656.80 – Up $21.70.

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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
4/23/2014 12:43:54 PM EST

Metal Bid Ask Change
Gold $1,283.40 $1,285.40 $2.30
Silver $19.37 $19.47 $0.06
Platinum $1,393.90 $1,403.90 $3.60
Palladium $782.00 $787.00 $2.40
4/23/2014 12:43:54 PM EST

Click here for Historical Charts*All Charts are in USD


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