Morning Gold & Silver Market Report – 5/8/2013

Ryan Schwimmer

5/8/2013 8:05:00 AM

DR. DOOM: “HUGE RALLY IN RISK ASSETS” AHEAD

Precious Metals prices have recovered yesterday’s losses, thanks to a weaker U.S. dollar and physical demand continuing to stay strong. Sharps Pixley said in a note, “Given the reduction of tail-risk in Europe, the rising labour market in the U.S. and the low inflation rate, investors prefer equities to Gold in the near term,” though many investors still like the portfolio balance Precious Metals offer.

U.S. stock futures are pointing to a higher open on Wall Street, continuing their record run. Surprisingly, New York University economics professor Nouriel Roubini, known as “Dr. Doom,” does not believe that stocks are in a bubble, but did warn of a major selloff. Roubini believes there is a “huge gap between sentiment on Wall Street and the main street,” and noted that a still-weak U.S. economy could lead to a “huge rally in risk assets” such as Gold.

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

• Gold, $1,469.00, Up $17.70.
• Silver, $24.02, Up $0.13.
• Platinum, $1,497.10, Up $14.40.
• Palladium, $691.90, Up $9.30.

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.