Mid-Day Gold & Silver Market Report – 1/19/2012
Peter LaTona
1/19/2012 12:01:00 PM
GOLD, SILVER PRICES RETREATING
Mixed economic data in the United States sent precious metals prices lower in morning trading. Weekly jobless claims figures came in much lower than expected and inflation is still under control, but housing starts unexpectedly weakened. The weekly unemployment benefit applications fell to its lowest number in four years, but the housing starts data tempered hopes that the housing sector might boost the economy this year.
Robert Melstein of CNBC wrote that 40 percent of affluent Americans are optimistic about the U.S. economy. This is the highest level in about six months. At the same time, their No. 1 investment pick was not stocks or real estate; it was Gold.
At noon (CST), the APMEX precious metals spot prices were:
- Gold - $1,655.10 – Down $6.30.
- Silver - $30.60 – Down $0.03.
- Platinum - $1,523.00 – Down $3.30.
- Palladium - $678.60 – Up $9.20.
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
