Morning Gold & Silver Market Report – 4/10/2013

Ryan Schwimmer

4/10/2013 8:01:00 AM

ALL EYES ON FED MINUTES

Precious Metals are trading lower and stock futures are trading higher as markets await the release of the latest Federal Open Market Committee meeting’s minutes. With quantitative easing (QE) benefiting Precious Metals prices in the past, investors will be picking apart the minutes for clues as to whether the Federal Reserve will end this round of unlimited QE soon. Another point of focus will be whether the sequester is hurting the U.S. economy more than originally expected. Henrik Drusebjerg of Nordea Bank believes it may be having more of an impact, saying, “Everyone got a bit of a scare Friday when they saw those jobs numbers.”

“Gold has a place in everyone’s portfolio,” according to CNBC’s Jim Cramer in a video from The Street. “I’ve been recommending this for eight years… if you look at the current situations with currencies, you’ve got to be kidding me to think that you don’t like Gold.” Cramer believes the recent dip in the Gold price is merely a buying opportunity. “I’ve been recommending the coins now since I saw the capital flight in Cyprus… I do want to own the coins, and I think it’s a great investment. People should recognize that Gold’s for real.”

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

• Gold, $1,577.30, Down $10.90.
• Silver, $27.79, Down $0.21.
• Platinum, $1,535.40, Down $18.70.
• Palladium, $713.80, Down $20.20.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 7 p.m. (CDT)! Or call us Fridays until 5 p.m. (CDT)! 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.