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Market Reports

Morning Gold & Silver Market Report – 1/18/2012


U.S. stock futures are up mildly, while precious metals prices are dipping slightly after the release of economic data this morning. Wholesale prices, a key gauge of inflation, fell by 0.1% in the U.S. However, this decline in prices is only due to large dips in food and energy costs, which are stripped out when the core wholesale prices are calculated. This core price rose 0.3%, a spike that is higher than normal.

Rumors that the International Monetary Fund could be increasing its lending capacity to Europe by $500 to $600 billion are supporting markets across the board today. Andrey Kryuchenkov of VTB Capital said this is good news for Gold. “The safe haven status quo continues to hold its ground as troubles in the eurozone are far from being resolved,” he said. “Further easing in the eurozone and accommodative monetary policies would be bullion-supportive.” This news could also drive up the euro’s value, and Peter Fertig of Quantitative Commodity Research Ltd. said, “A weaker U.S. dollar should be supportive for Gold.”

A quick glance at world news this morning is a reminder that geopolitical tensions are still very active, which could also support the safe-haven appeal of Gold. Pakistan has denied a visit to that country by a U.S. ambassador. Pakistan still has problems with India, and India still has problems with China. The revolution in Syria presses on with more bloodshed. Iran says negotiations are under way regarding its nuclear program, while Israel says it is far from a decision about attacking Iran because of the nuclear activity.

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

  • Gold - $1,647.00 – Down $9.80.
  • Silver - $30.17 – Down $0.05.
  • Platinum - $1,509.80 – Down $17.90.
  • Palladium - $649.10 – Down $7.40.

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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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