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Closing Gold & Silver Market Report – 1/8/2013


After three consecutive days of losses, Gold has made a positive turn around. There has been a worldwide push for physical demand as of late, which is not unusual for this time of year. “Gold historically has shown a tendency for strong demand, and prices, in the second half of January. This can be largely attributed to demand from China in the run-up to the Chinese New Year celebrations,” Gold Newsletter editor Brien Lundin said.

The Bank of Japan (BOJ) is considering extending its monetary easing program. The current program is similar to other countries’ programs that include the buying of assets and an aggressive lending program. “The trend for prices is weak and that's a concern. The outlook for overseas economies is also highly uncertain," an anonymous source familiar with BOJ’s thinking said. The BOJ will meet later this month to solidify its plans.

In the United States, local and state level government entities are expected to largely increased their workforces in 2013. States have seen a revenue increase of almost four percent, and over half of the cities say they are in better financial situations than this time last year. “The bloodletting on the state- and local-government level has finally passed through,” Jim Diffley, chief U.S. regional economist for IHS Global Insight in Philadelphia, said. “They’re no longer subtracting from growth.”

At 5:04 p.m. (EST), the APMEX Precious Metals spot prices were:

  • Gold, $1,661.80, Up $13.50.
  • Silver, $30.45, Up $0.33.
  • Platinum, $1,584.00, Up $27.70.
  • Palladium, $674.90, Up $3.90.

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