Morning Gold & Silver Market Report – 12/5/2012
Ryan Schwimmer
12/5/2012 8:06:00 AM
STRATEGISTS: GOLD, SILVER LOSSES WILL BE SHORT-LIVED
Gold & Silver prices are rising this morning, recovering from losses earlier this week. Strategists at Deutsche Bank believe that, due to the U.S. dollar’s recent performance, losses in those metals will not last. Their belief is that currency markets have not shown that investors are looking to take risk off the table, and they said, “We would therefore view the weakness in Gold and Silver as likely to be short-lived.”
The ADP jobs report, which shows new jobs added in the private sector, showed a gain of 118,000 jobs in November, which is mostly in line with economists’ projections. Many investors are keeping an eye out for Friday’s nonfarms payroll report for more news on the job market. Economists expect those numbers to gain, with the unemployment rate staying at 7.9 percent.
At 9 a.m. (EST), the APMEX Precious Metals spot prices were:
- Gold, $1,698.40, Up $2.60.
- Silver, $32.90, Up $0.12.
- Platinum, $1,589.40, Up $5.50.
- Palladium, $682.50, Down $0.20.
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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
