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Mid-Day Gold & Silver Market Report 4/4/2012


Precious metals are following morning trends with a fall in prices across the board, following yesterday’s news that further quantitative easing from the Federal Reserve is unlikely. “The market has decided that yesterday’s statement is probably the final nail in the coffin,” Frank Lesh of FuturePath Trading said. “Gold is reacting to the strength in the dollar.”

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, is predicting a 3 percent increase in U.S. economic growth for 2013.  Lacker said if the economy develops successfully, the benchmark interest rates that the central bank has in place will increase. In a Bloomberg Television interview, Lacker said, “The logical time to raise rates is going to be sometime next year. That’s based on my sense that growth is going to pick up enough by then in order to warrant raising rates to keep inflation pressures under control.”

The Greek government is preparing to meet today with investors who hold 2 to 3 percent of Greece’s privately held debt to determine if they will swap their bonds for new long-term securities and take a 75 percent loss. Investors have until April 18 to decide. 

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

  • Gold - $1,619.20 – Down $52.30.
  • Silver - $31.35 – Down $1.97.
  • Platinum - $1,598.30 – Down $61.20.
  • Palladium - $634.10 – Down $26.50.

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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