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Morning Gold & Silver Market Report – 4/10/2012


Demand for Gold and Silver is pushing prices upward at the moment after missed estimates on economic data. Federal Reserve Chairman Ben Bernanke said the U.S. economy is “far from having fully recovered,” speaking in regard to the disappointing jobs report released Friday. In addition, China unexpectedly reported a trade surplus last month, furthering speculation that demand is slowing in that country.

Worries over the recent string of negative economic reports have not only affected U.S. stocks (which are on a four-day losing streak), but the data is also affecting European stocks. Peel Hunt’s Ian Williams said although the disappointing numbers may point to further easing from the Fed, the “risk-off mood that prevailed in the early days of the second quarter seems likely to persist for now.” Precious metals have been a source of safety and insurance in times of economic uncertainty.

Geopolitical tensions have increased between many Asian countries regarding North Korea’s planned rocket launch. South Korea, Russia, China, Japan and Western countries have all expressed concern about (or have outright condemned) this launch. While North Korea claims this launch is only to put a weather satellite into space, U.N. sanctions that are meant to keep the country from developing nuclear missiles will be breached.

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

  • Gold – $1,647.80 – Up $3.40.
  • Silver – $31.70 – Up $0.12.
  • Platinum – $1,606.60 – Down $10.60.
  • Palladium - $641.30 – Down $3.50.

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 simply would prefer to place your order by telephone, we are here to help.

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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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