Closing Gold & Silver Market Report – 4/9/2013

Nicholas Wilsey

4/9/2013 4:37:00 PM

GOLD CLOSES ON HIGH NOTE

Gold and Silver have both seen increases in their prices, with Gold reaching a one week high and Silver reaching a level not seen since January. “Gold is finding support from what [Federal Reserve Chairman Ben] Bernanke said and expectations of easing in China,” Frank Lesh of FuturePath Trading said. Gold and Silver prices have found support with all indications pointing toward continuing monetary easing around the globe.

Tomorrow brings the release of the Fed’s March meeting’s notes. In the first two months of the year, the notes created quite a bit of stir in the marketplace. This month’s release might not cause such a commotion. “I think the Fed minutes will read as stale because we have had some weaker economic numbers since they last met,” Eric Lascelles, chief economist at RBC Global Asset Management in Toronto, said. With a lack of talking points, most believe the Fed will continue their current economic plan.

At 5:00 pm (EDT), the APMEX precious metals spot prices were:

• Gold, $1586.30, Up $12.30.
• Silver, $28.02, Up $0.78.
• Platinum, $1549.20, Up $11.20.
• Palladium, $727.10, Down $3.70.

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