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


Since the Mid-Day Gold & Silver Market Report was posted, Gold prices have seen a slight decline, although the weakness of the U.S. dollar buoyed prices above $1,600. The price of Silver has remained virtually unchanged, and Platinum and Palladium prices have seen modest gains. The view of Brien Lundin, editor of the Gold Newsletter, is that “investors will, eventually, realize that the quantitative easing policies already under way in Europe and lying ahead in the U.S. will drive the Gold price considerably higher. But this understanding will only grow amidst some degree of calm and certainty in the markets.” Lundin said he believes that once Gold experiences some market “calm and normalcy,” investors will feel more confident about moving away from cash and into the safe haven of Gold.

A “symbolic tipping point” has been reached here in the United States, as the country’s national debt and the value of its entire economy are now approximately the same size. Altogether, the amount of money owed by the federal government to its creditors, along with various financial obligations to programs such as government retirement, has surpassed $15.23 trillion, which is nearly equal to the amount of a year’s worth of all goods and services produced in the U.S. The Bipartisan Policy Center’s Steven Bell said, “The 100% mark means that your entire debt is as big as everything you’re producing in your country. Clearly that can’t continue.” Debt projections estimate that the U.S. economy grew to around $15.3 trillion last month, a figure the debt level is expected to surpass this month. Projections over the long term show that the national debt will continue to outpace the economy.

At 4:01 p.m. (CST), the APMEX precious metals spot prices were:

  • Gold - $1,612.60 - Down $5.20.
  • Silver - $29.05 - Up $0.29.
  • Platinum - $1,430.00 - Up $22.80.
  • Palladium - $618.10 - Up $3.10.

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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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