Closing Gold & Silver Market Report, 8/30/2012
Brandi Brundidge
8/30/2012 4:03:00 PM
SEPTEMBER USUALLY EVENTFUL FOR FINANCIAL MARKETS
Investors are patiently waiting to see if Federal Reserve Chairman Ben Bernanke will announce a stimulus plan to boost the American economy when he speaks Friday from Jackson Hole, Wyo. The sentiment is mixed whether the Fed is set to launch another round of quantitative easing or continue to postpone further measures. “The U.S. data has been mixed, so people are unsure about tomorrow,” said Frank Lesh at FuturePath Trading LLC. “Also, the worries about Europe are back in the forefront, and investors are moving out of commodities.”
September is usually an eventful time in the financial markets, and this year could be even more so with the American presidential election ahead of us, among other things. The eurozone is still trying to contain its financial crisis, as European leaders and policy makers are struggling to come to a resolution. China’s recent economic data show it is a nation struggling, keeping investors skeptical whether the Chinese financial market will pick back up or not. The American economy has been dealing with both optimistic and pessimistic data, which most recently has created anxiety about whether QE3 will be introduced.
At 5:02 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,656.40, Down $5.10.
- Silver, $30.50, Down $0.43.
- Platinum, $1,508.90, Down $12.40.
- Palladium, $620.50, Down $16.00.
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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
