Morning Gold & Silver Market Report – 1/24/2012


European finance ministers rejected a proposal by the private holders of Greek debt and are balking at putting in additional public money if the private investors are not willing to take a bigger haircut. This news has sent European stocks down, along with the euro. The Greek debt crisis remains cloaked in uncertainty, as the debt restructuring issue is far from resolved. Hedge funds, which account for a large number of the private debt holders, are preparing for a legal battle with Greece. The hedge funds want either all of their money, or they want Greece to default. Hedge funds have bought insurance as a hedge against default, so they stand to get their money back in either scenario.

U.S. stock futures are slipping over the standoff in Greece. If that holds today, it will snap a five-day rally. “There’s too little movement on the political front in Brussels and Athens,” said Witold Bahrke, a senior strategist at Copenhagen PFA Pension A/S, where he helps manage assets worth $45 billion. “Markets are experiencing a small setback.”

At 8 a.m. (CST), the APMEX precious metals spot prices were:

  • Gold - $1,666.20 – Down $13.60.
  • Silver - $32.18 – Down $0.18.
  • Platinum - $1,543.80 – Down $18.30.
  • Palladium - $679.00 – Down $10.80.

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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
4/21/2014 3:24:03 AM EST

Metal Bid Ask Change
Gold $1,287.50 $1,289.50 ($6.40)
Silver $19.28 $19.38 ($0.27)
Platinum $1,403.30 $1,413.30 ($15.40)
Palladium $789.70 $794.70 ($13.40)
4/21/2014 3:24:03 AM EST

Click here for Historical Charts*All Charts are in USD

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