Closing Gold & Silver Market Report – 4/26/2011
Peter LaTona
4/26/2011 4:37:00 PM
GOLD – THE PERFECT ANTI-INVESTMENT – The University of Texas made an extraordinary investment decision on April 15th, when they not only moved 5% of their assets into gold; they actually bought gold and not an ETF. This second-largest academic endowment in the US, decided that they needed insurance against inflation, as a result of current fiscal and monetary policies. “The role gold plays in our portfolio is as a hedge against currencies. The concern is that we have excess monetary and fiscal stimulus,” Bruce Zimmerman, chief executive officer of The University of Texas Investment Management Company told CNBC television. Mr.Zimmerman also described gold as an anti-currency, being it is in limited supply and you cannot just print some more. Gold will not only protect you against inflation and currency risk, but market failure as well.
The US dollar slipped to near 2 1/2 year lows today, on expectations that the Fed will give no indication on Wednesday, when they might end their loose monetary policies. "I don't think [the Fed is] ready, but they are preparing the groundwork" for an eventual tightening, said Joseph Trevisani, chief market analyst at FX Solutions. If the Fed continues to downplay inflation, it is likely the value of the dollar will continue to decline.
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,508.30 (down $1,80)
- Silver price - $45.65 (down $1.57)
- Platinum price - $1,807.00 (down $20.10)
- Palladium price - $753.40 (down $8.40)
Mother’s Day is coming up. We have some unique Mother’s Day gold and silver gifts!
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
