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Market Reports

Morning Gold & Silver Market Report – 12/12/2012


Last week, investors tried to be optimistic about the European summit deal. When official announcements were made Friday, markets tried to remain positive. But the lack of substance sunk in over the weekend, and confidence in the financial markets quickly began to wane. Britain made it clear that it wants no part of any treaty changes that would force countries to give up some sovereign rights. In the end, there is still no plan, and now all 17 countries would have to agree to the legal terms of a new treaty. French President Nicolas Sarkozy expects to have a plan by March, but markets are skeptical. The euro is declining as a direct result of this failing confidence; by default, the U.S. dollar is gaining in popularity as Gold and Silver prices move lower.

European events have been driving the financial markets of late, but an active week ahead might turn attention to the U.S. this week. The Federal Reserve Board will meet Tuesday, although no new action is anticipated. There will be important economic reports coming out. Data from November’s retail sales will be out Tuesday. The weekly jobless claims report is due Thursday. Producer and consumer inflation data are to be released Thursday and Friday. This week also is expected to be busy, as historically the weeks before and after Christmas are rather quiet.

At 8 a.m. (CST), the APMEX precious metals prices were:

  • Gold - $1,672.60 - Down $42.20.
  • Silver - $31.16 – Down $1.08.
  • Platinum - $1,489.50 – Down $27.30.
  • Palladium - $665.50 – Down $21.00.

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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.

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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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