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Closing Gold & Silver Market Report – 10/25/2012

GOLD FINISHES UP; FUTURE INFLATION POSSIBLE

U.S. stocks closed the day slightly higher on positive reports for the global economy. Gold closed up after finishing Wednesday on a seven-week low. It appears that investors had been wagering on a continued decline in the Precious Metal by selling to take advantage of higher prices. Recent news of the U.S. central bank’s reassurance of its policy on interest rates and increased demand from India has encouraged some domestic buyers to jump back in.

There is a growing sense that U.S. consumers will face higher health care, grocery and other bills in 2013. Scott Hoyt, senior director of consumer economics for Moody’s Analytics is quoted saying, “We think it’s going to be a difficult six to nine months.” The expiration of tax cuts and expected spikes in food prices could put a 0.8 percent dent in economic growth next year.

At 4 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,713.20, Up $11.10.
  • Silver, $32.18, Up $0.54.
  • Platinum, $1,563.30, Up $5.10.
  • Palladium, $604.10, Up $10.40.

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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.

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