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Our Daily
Market Reports

Morning Gold & Silver Market Report – 5/8/2012


Precious metals and stocks across the globe are trading lower this morning amid the renewed concerns in Europe.  Mike McCudden of Interactive Investor explained, “With the sight of yet more roadblocks on the road to recovery for the euro zone, investors hoping for some positive surprises from the French and Greek elections have been left largely disappointed.”  Concerns in Europe have brought the euro’s value down, and precious metals seem to be reacting to that development.

One hedge fund manager is predicting tough times ahead for stocks, which could be positive for gold and silver, considering the negative correlation the metals historically hold to stocks.  Referring to the Federal Reserve’s “Operation Twist,” he says that “the Fed has effectively found a way to keep long-term interest rates low … and cleverly engineered another bull rally (for stocks). … The U.S.A. will have to start dealing with issues that some market participants refer to as Taxmageddon.”  “Taxmageddon” is the term being given to the coming months before the U.S.A. presidential election, when many decisions on tax breaks are due.

At 10:10 a.m. (EDT), the APMEX precious metals spot prices were:

  • Gold – $1,603.80 – Down $36.30.
  • Silver - $29.37 – Down $0.79.
  • Platinum - $1,510.30 – Down $20.80.
  • Palladium - $626.40 – Down $22.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! 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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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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