Mid-Day Gold & Silver Market Report 4/6/2012
Brandi Brundidge
4/6/2012 12:09:00 PM
MARKETS CLOSED TODAY; EURO FEELS EFFECT OF SPAIN’S FINANCIAL ISSUES
With yesterday’s report that fewer jobs were created in the U.S. than had been forecasted, the Federal Reserve might reconsider implementing a stimulus plan to promote growth. “There’s going to be this feeling that the Fed’s minutes, that said easing was off the table, is not going to pan out,” said Michael Gayed, the chief investment strategist who helps oversee $150 million at New York-based Pension Partners LLC. “We’re getting the consistent message that stimulus is good for Gold.”
The euro is feeling the effect of Spain’s debt crisis, which is not being fully contained at the same time borrowing costs are on the rise. “We haven’t seen any major improvements in the European debt situation,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp. (8711), a currency-margin company. “After Greece, investors may be beginning to shift their focus onto countries like Spain, Portugal and Italy. I expect the euro will gradually sink as the region’s economy deteriorates.”
Precious metals markets are closed today in observance of Good Friday. The latest APMEX precious metals spot prices were:
- Gold - $1,630.60.
- Silver - $31.79.
- Platinum - $1,606.60.
- Palladium - $645.80.
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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
