Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Mid-Day Gold & Silver Market Report, 7/27/2012


Precious Metals remained relatively steady through the morning trading period. There was some movement, and any gains were suppressed by the less than impressive GDP report and a weakening dollar. Strategist Walter de Wet said, “Gold has stabilized since the GDP data. There’s fairly good demand, some buying on the dips, but I doubt it will increase much.” Meanwhile VTB Capital’s Andrey Kryuchenkov said, “Once again, Gold volumes remain quite subdued, and physical players will need to step in and support a sustained rally, which is also unlikely at these prices, not least because of a demand lull in India at the moment.” Financial markets are influencing prices a bit more in lieu of physical metal buying.

Domestic economic growth during the second quarter of 2012 hit its slowest pace in almost a year. The slow pace is starting to apply pressure to policymakers to do something to stop the stall. GDP expanded at 1.5 percent between April and June, the worst growth since the third quarter of 2011. Economics professor Sung Won Sohn said, “The economy has lost altitude and flying pretty close to stall speed. Monetary policy is the only game in town, and additional easing is highly likely.” However, economist Adolfo Laurenti said, “The Fed will pull the trigger on QE3 if the sense is we are getting into trouble. But if we are just weak and somewhat limping forward, they will prefer to stay pat. They do not want to use whatever ammunition they have left too soon, they want to keep some just because things might get even worse later on.”

At 1 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,618.70, Up $1,60.
  • Silver, $27.54, Down $0.01.
  • Platinum, $1,409.00, Up $3.40.
  • Palladium, $573.60, Up $2.80.

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.

« Return to Commentaries

World Market Trading Hours

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.

NYMEX Markets
8:20 a.m.-1:30 p.m. (ET)
8:25 a.m.-1:25 p.m. (ET)
8:20 a.m.-1:05 p.m. (ET)
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)

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.

 (0)

There are no items in the cart.