hp-free-shipping-truck Free Shipping On Orders Over $99

Our Daily
Market Reports

Mid-Day Gold & Silver Market Report, 9/7/2012

JOBS REPORT PUSHES PRECIOUS METALS PRICES UPWARD; RUSSIA STOCKPILES GOLD   

Disappointing data from the monthly United States jobs report is the latest news to cause concern over the American economy and prompt a spike in Precious Metals prices. The continued lack of stronger economic statistics is propelling the anticipation of further monetary easing by the Federal Reserve. Economist Mark Zandi described the sentiment of the individual worker, stating, “They (workers) are still feeling pretty awful. They recognize that we’ve made progress, that we’ve gone from losing a boatload of jobs to seeing some growth, but that’s very little solace in the context of an (8.1 percent) unemployment rate.”

Central banks from nations around the globe have been amassing sizable Gold reserves in recent years as a reaction to the global financial crisis. The World Gold Council recently announced that Russia has doubled its stockpile in the past five years by purchasing a half-billion dollars’ worth of Gold every month. If the Fed announces further quantitative easing and world economic leaders such as Russia continue accumulating large quantities of Gold, the price of the yellow metal is likely to continue its upward climb.

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

  • Gold, $1,738.30, Up $33.70.
  • Silver, $33.68, Up $1.01.
  • Platinum, $1,593.30, Up $5.90.
  • Palladium, $654.40, Up $6.70.

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

« 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.

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

Disclaimer:
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.

Items In Cart


There are no items in the cart.

AURIC