Morning Gold & Silver Market Report – 4/13/2011
Peter LaTona
4/13/2011 8:15:00 AM
INTERNATIONAL MONETARY FUND WARNS ABOUT US DEBT - THE IMF came out with a statement that the US lacks a “credible strategy” to address their debt issues. The IMF also pointed out that the US was the only advanced economy to be increasing debt at a time their economy was growing at a rate sufficient enough to tackle their debt problems.
President Obama will lay out his deficit plan today. He is expected to re-introduce his plan to raise taxes for the rich, while making new proposals to reduce government pensions and health care plans.
Oil and precious metal prices are rising this morning as the US dollar retreats once again. Gold is up $8.50 – Silver is up 53 cents – Platinum is up $16.50 – Palladium is up $1.89
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,462.10
- Silver price - $40.66
- Platinum price - $1,789.80
- Palladium price - $772.90
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
