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Morning Gold & Silver Market Report – 4/20/2012


Gold has extended gains from yesterday as investors are focused on a pivotal election in France. Incumbent President Nicolas Sarkozy’s chances of being re-elected are dwindling, and many investors are afraid that his replacement could further hurt France’s troubled economy. While Sarkozy and German Chancellor Angela Merkel, leaders of the top two economies in the eurozone, worked together during the recent crisis, it is expected that Sarkozy’s replacement will not be so willing to work with Merkel.

The Gold price is tracking the value of the euro, which was boosted this morning by positive economic data out of Germany. BNP Paribas analyst Anne-Laure Tremblay said, “Sentiment for Gold is currently mixed, with lower perceived prospects for quantitative easing in the United States counterbalanced by ongoing safe haven demand, particularly in a context of renewed European sovereign debt concerns.” Citing another factor that is keeping the Gold price from climbing, she said, “Subdued physical demand from India in recent weeks is likely also weighing on the price.”

U.S.A. Defense Secretary Leon Panetta has accused China of helping North Korea with its ballistic missile program. This would be in direct defiance of United Nations regulations, and China has denied any involvement. China and North Korea are allies, though the former did condemn the latter’s failed missile launch last week, at least publicly.

At 9 a.m. (EDT), the APMEX precious metals spot prices were:

  • Gold - $1,644.00 - Up $2.10.
  • Silver - $31.84 - Down $0.01.
  • Platinum - $1,579.00 - Up $2.00.
  • Palladium - $667.60 - Up $3.40.

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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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