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Our Daily
Market Reports

Closing Gold & Silver Market Report – 3/22/2012


Since the Mid-Day Gold & Silver Market Report, prices for precious metals have edged up slightly. The stronger dollar pushed Gold down today, although today’s session saw the dollar give ground versus other currencies in the end, which helped Gold pare earlier losses.

With the possibility looming that the Volcker Rule won’t be in place in time for its July 21 deadline, an official with the Federal Reserve attempted to reassure banks today that the guidance needed to comply with the terms of the rule would be provided anyway. The Volcker rule, part of the Dodd-Frank financial reform law passed in 2010 and named after the former Federal Reserve chairman who championed it, blocks banks from using their funds to engage in risky trading while also curtailing investments in hedge and private equity funds. The concern among banks now is that if the rule isn’t ready by the July deadline, it could result in market disruptions.

Government statisticians in Ireland reported today that the country slipped into a recession again as 2011 came to a close. As Ireland attempts to recover following an international financial bailout, this is viewed as a discouraging sign. Any economic revival for Ireland depends on a reduction of its budget deficits through increased tax collections and employment. However, the expectation is that Ireland will spend about 56 billion euros this year while only collecting 38 billion euros in taxes.

At 4:02 p.m. (CDT), the APMEX precious metals spot prices were:

  • Gold - $1,646.80 – Down $5.00.
  • Silver - $31.63 - Down $0.65.
  • Platinum - $1,621.60 - Down $19.50.
  • Palladium - $656.00 - Down $33.60.

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World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.


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