Morning Gold & Silver Market Report – 12/14/2012
Ryan Schwimmer
12/14/2012 8:01:00 AM
INDIA BOOSTS PHYSICAL GOLD’S DEMAND
The Gold price is relatively flat this morning, while Silver is slightly higher, recovering from yesterday’s losses. November consumer prices dropped by 0.3 percent overall according to a report released this morning, though the core prices (which exclude volatile food and energy prices) rose by 0.1 percent. Inflation is a key concern of the Federal Reserve, which has recently made clear that Gold-friendly quantitative easing measures would continue until unemployment fell to 6.5 percent and inflation was curbed.
Earlier this year, talk was that investors were sitting on the sidelines as far as taking a Gold position as they waited for the election. As time progressed, it became apparent that the fiscal cliff was another hot button topic keeping investors on the sidelines, which continues to today. Internationally, however, the story is different. Gold importers in India, the world’s largest consumer of Gold, are stocking up for the wedding season. Harshad Ajmera of JJ Gold House said, “People feel this is a good buying opportunity as prices could jump another 1,000 rupees,” which is currently around $18.35 (USD).
At 9 a.m. (EST), the APMEX Precious Metals spot prices were:
- Gold, $1,697.10, Up $0.40.
- Silver, $32.53, Up $0.20.
- Platinum, $1,617.40, Up $3.60.
- Palladium, $700.00, Up $8.40.
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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
