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Market Reports

Morning Gold & Silver Market Report – 4/14/2011

JOBLESS CLAIMS RISE – INFLATION FEARS GROW – New jobless claims unexpectedly rose last week rising once again above the 400,000 level. Economist polled by Reuters projected claims to fall to 380,000. The four week moving average, which is considered the best measurement, went up 5,500 to 395,750. Inflation fears grow as US core prices rose faster than projected in March, and the increase from one year ago was the largest since August of 2009.

The US Senate investigation panel, probing the actions of Goldman Sachs during the mortgage crisis, refers to them as disgraceful. The Senate subcommittee has accused Goldman Sachs of selling low quality mortgage securities that they had placed bets against. Goldman has already been fined $550 million. The two-year investigation recently introduced new documents indicating Goldman conducted transactions without the required full disclosure. Goldman Sachs disputes the accuracy of these documents.

Greek bond yields are soaring which indicates a greater chance that they will be forced to restructure their massive debt.  European Central Bank Executive Board member Lorenzo Bini Smaghi, stated that such a restructuring would be catastrophic for the banks and the economy.

Gold and silver prices are moving up on this morning’s news.

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,460.90 (up $5.30)
  • Silver price - $41.05 (up 75 cents)
  • Platinum price - $1,775.00 (down $1.20)
  • Palladium price - $765.00 (down $1.20)

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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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