Morning Gold & Silver Market Report – 6/15/2011
Ryan Schwimmer
6/15/2011 9:16:00 AM
STOCKS, EURO TUMBLE
U.S. stock futures pointed south awaiting the latest round of economic reports, and fell sharply once the reports were released. Even the core consumer prices rose by 0.3%, the largest one-month gain in nearly three years. The core prices are typically a better indicator of inflationary trends since they strip away the volatile factors of food and energy. A separate report showed a regional manufacturing index declining sharply in June.
European officials haven’t made any progress on a potential second bailout for Greece. Thousands of workers walked off the job today to join a strike against the proposed austerity measures that Greek lawmakers are set to debate. The European Central Bank and Germany are still at odds over the private sector’s role in a potential bailout. The euro slumped amid the news. The US dollar is up, but gold has recovered from early-morning losses.
At 9:15 am (CT) the APMEX precious metals spot prices were:
- Gold - $1,531.40 (up $6.50 on the day)
- Silver - $35.66 (up $0.16)
- Platinum - $1,793.20 (down $2.70)
- Palladium - $790.00 (down $4.00)
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
