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Market Reports

Morning Gold & Silver Market Report – 1/9/2012


Stock futures and precious metals prices are relatively flat this morning, as traders in both sectors keep a sharp eye out for any news coming out of today’s meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy. Their lunchtime meeting in Berlin is seen as a further effort to create a plan to ensure the euro survives in the face of headwinds from a failing banking sector. The next summit of European leaders is set for Jan. 30. It is imperative that a plan be devised that will require greater financial discipline, while still gaining support from the 17 eurozone nations.

There has been much press the past year and a half about how central banks have gone from net sellers of Gold to net buyers. Who owns the most Gold? Who owns the largest Gold reserves? It will come as no surprise that the largest owner of Gold is the United States central bank. It may be surprising how much Gold is owned by smaller countries such as Germany, France and Switzerland. They actually own much more than the U.S. as a percent of GDP. China is only seventh, but there is much speculation that China will increase this amount in order to bring its Gold to a foreign reserve ratio more in line with Western nations. Western nations typically hold 50% or more of their foreign reserves in Gold. China only holds 1.8%, so there is certainly much upside potential.

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

  • Gold - $16,22.30 – Up $4.50.
  • Silver –$29.03 – Up $0.27.
  • Platinum - $1,409.50 – Up $2.30.
  • Palladium - $617.70 – Up $2.70.

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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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