Mid-Day Gold & Silver Market Report – 3/1/2013

Craig C. Calvin

3/1/2013 12:05:00 PM

PRESIDENT OBAMA HOPES COMMON SENSE WILL WIN OUT

President Barack Obama is holding fast to his view that the sequester due to take effect today can only be replaced by a plan that involves higher tax revenue. Coming out of a meeting with some Congressional leaders this morning, the president expressed his hope that common sense will win out in Washington once the country experiences across-the-board spending reductions resulting from sequestration. The president also indicated his willingness to consider Republican requests for entitlement reforms if they are willing to eliminate some tax loopholes.

Unemployment in the eurozone reached an all-time high of 11.9 percent in January, according to figures from the European Union. With the recession continuing in the zone, this year started much the way last year ended as millions of people struggle to find work. Analysts caution that there is more pain to come; the forecast is that the zone’s economy will shrink, while governments will continue deficit-reduction efforts.

At 1:03 p.m. (EST), the APMEX precious metals spot prices were:

• Gold, $ 1,582.70, Down $15.00.
• Silver, $ 28.59, Down $ 0.43.
• Platinum, $ 1,586.70, Down $ 15.40.
• Palladium, $ $732.30, Down $ 12.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EST)! Or call us Fridays until 6 p.m. (EST)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.