Mid-Day Gold & Silver Market Report – 3/4/2013
Nicholas Wilsey
3/4/2013 1:00:00 PM
GOLD PRICE STAYS FLAT AS STIMULUS CONTINUES
As Monday reaches its midway point, Gold’s market value has held steady. Many economists are questioning why Gold has not seen a higher rise in value based on the actions of many leading central banks around the world. From the United States, Europe and China the clear route has been a steady feed of monetary easing into their respected economies. “It seems as if accommodative monetary policies are here to stay for some time,” Lance Roberts, chief executive officer of Streettalk Advisors LLC in Houston, said. In the past, such easing has given positive support to the value of Precious Metals, and many believe it will continue to do so.
In the U.S., some members of the Federal Reserve have been very vocal in their support of continuing monetary easing. “At present, I view the balance of risks as still calling for a highly accommodative monetary policy to support a stronger recovery and more rapid growth in employment,” Federal Reserve Vice Chair Janet Yellen said Monday in a speech to the National Association for Business Economics. Between the easing program and the major budget issues in the U.S. government, many investors are left looking for stability.
At 1:02 pm (EDT), the APMEX precious metals spot prices were:
- Gold, $1575.30, Up $1.00.
- Silver, $28.59, Up $0.08.
- Platinum, $1570.50, Down $5.00.
- Palladium, $713.60, Up $5.80.
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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
