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Morning Gold & Silver Market Report – 4/3/2012


Gold and Silver are following U.S. stock futures this morning, as all are experiencing slight losses. Minutes of the latest Federal Open Market Committee meeting will be released later today. In a research note, analysts at Bank of America Merrill Lynch wrote, “We will look for the discussion around the outlook and the risks to see whether greater optimism is starting to enter into the staff forecast.” The main thing investors are looking for are clues to another round of quantitative easing, which historically has been supportive for the Gold price.

Richard Cookson, chief investment officer at Citi Private Bank, said the beginning of 2012 “looks eerily similar to last year for a lot of the same reasons.” He added, “This isn’t a normal market recovery, if you look at the state of central bank balance sheets … it’s a bit like being in an abusive relationship where the abnormal becomes the normal.” He also warned that Europe is starting 2012 much like 2011, and it’s no secret that 2011 wasn’t exactly a great year for the eurozone.

Platinum and Palladium are enjoying slight gains this morning after reports were released showing auto sales were at a five-year high in March. The two metals are important components in the production of new cars, and oftentimes prices follow news from the automobile industry.

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

  • Gold – $1,676.70 – Down $2.50.
  • Silver - $32.93 – Down $0.22.
  • Platinum - $1,662.10 – Up $8.20.
  • Palladium - $661.80 – Up $2.00.

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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