Mid-Day Gold & Silver Market Report – 4/3/2013
Nicholas Wilsey
4/3/2013 12:36:00 PM
GOLD PRICE LOWER IN A CAUTIOUS MARKET
Gold’s price fell in today’s trading, adding to yesterday’s losses. Even as payroll data in the United States showed a slowdown for the month of March, it was not enough to move Gold’s price higher. With the rise of many equities markets in the U.S., investors seem to be moving towards riskier investments like stocks in lieu of Precious Metals. However, the release of the U.S. government’s jobs report Friday will give investors a better picture of what lies ahead.
Investors around the globe have one thing in common right now: caution. There are many announcements coming later this week that could give direction to the economic outlook worldwide. Tomorrow, the central banks of Europe and Japan are set to announce their future easing plans. Friday, the U.S. will announce the country’s payroll numbers, which will give direction to their monetary easing program. “People ... are keeping their positions quite tight ahead of central bank meetings and data later this week,” Ioan Smith, strategist at Knight Capital, said. “Even though the chances of a surprise may be small, you don't want to be caught the wrong way if there is one.”
At 1:00 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1560.60, Down $16.80.
- Silver, $26.90, Down $0.45.
- Platinum, $1541.50, Down $31.20.
- Palladium, $755.50, Down $12.90.
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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
