Mid-Day Gold & Silver Market Report – 5/13/2011
Geoffrey Varner
5/13/2011 12:07:00 PM
FRIDAY THE 13TH FEARS EQUATE TO INFLATION – Stocks are trading lower Friday, primarily driven by concerns over inflation and a strengthening dollar. "Core inflation is beginning to accelerate. Bernanke may be on the wrong side of this while some of the regional Fed presidents may be closer to the mark," said Michael Strauss chief economist and chief investment strategist at Commonfund.
Inflation means our dollars have to try and go further to pay for the same goods and services, our household budgets end up taking more of our income. Charles de Vaulux, mutual fund manager suggests, that a part of your diverse portfolio of assets, you should own gold bullion. “We control risk by owning gold,” de Vaulx said. “As long as the policymakers are being irresponsible, it’s good to own some gold, especially if the [U.S.] dollar keeps falling.”
At 12:05 PM (CT) the APMEX precious metals prices were:
- Gold price – $1,493.00 (down $15.50)
- Silver price – $34.84 (down $0.05)
- Platinum price – $1,769.80 (down $2.20)
- Palladium price - $712.30 (down $8.60)
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
