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Mid-Day Gold & Silver Market Report 3/28/2012


According to Goldman Sachs, Gold’s price is too low compared to real interest rates. Gold is an asset that protects an investor against the possibility of the unknown, such as a Black Swan event. Recently, Matthew Lynn of Strategy Economics commented on the buying power by central banks in regards to Gold. Lynn said, “By holding more Gold, central banks are insuring themselves against their own profligacy. They print money. The price of Gold goes up. And if they hold a lot of the stuff in their vaults, they are the big winners from the rise in price.” Malcom Norris of Solomon Gold predicted the precious metal could even reach $2,000 per ounce. 

An interesting survey conducted by CNBC shows that Americans feel that Gold is the best investment at this time. Also, the poll confirmed that 65 percent of Americans believe it is better to own a home rather than renting. The purpose of the survey is to see how the populace feels about the economy’s improvement. 

The increase in crude oil prices has left former General Electric CEO Jack Welch distraught regarding the condition of the U.S. economic recovery. “It’s not taking off. We’re sort of relatively strong but not booming,” Welch said in a CNBC interview. “I am normally to one extreme or another, and I’m a little shaken about not knowing where this is going.” He said he has a lot of uncertainty about the economic recovery. The rising gasoline costs and tax uncertainty are key components to his opinion. “Gasoline prices — you can't have this jump and not think that it affects the pocketbook,” Welch said. This is already starting to affect consumer confidence.

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

  • Gold – $1,665.80– Down $20.60.
  • Silver - $32.14 – Down $0.53.
  • Platinum - $1,638.00 – Down $20.50.
  • Palladium - $648.30 – Down $15.80.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays! If you have any questions about investing in precious metals or would simply prefer to place your order by telephone, we are here to help.

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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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