Spot prices

Westminster Mint provides free real time price quotes on gold, silver, platinum and palladium. People interested in the precious metals market can follow the prices and see trends develop 24/7 on the world market by using our free current and historic price charts and graphs. Track your holding and measure how you are performing against other commodities and stock market indexes such as the Dow Jones, S&P 500, S&P Euro currency, Crude Oil and the U.S. Dollar. You get access to exactly what you need to know-when you need to know free and in real time.

Friday, May 3, 2013

The precious complex is relatively unchanged following the release of April

The precious complex is relatively unchanged following the release of April Non-Farm Payroll data that showed 165,000 jobs being added and the unemployment rate falling to 7.5%. However, before we all bust out our kazoo’s and party hats we must take into consideration that many so-called “experts” feel that ~250,000 jobs per month – on a consistent basis – is what should be “expected” in a recovering/healthy economy not to mention the Labor Force Participation Rate remains at a 35 year low! Nonetheless, market participants will take what they can get but just because the data may prove to be short-term positive for equities it shouldn’t necessarily correlate into pressure on other assets such as the precious metals. Gold has the backing of ultra-accommodative monetary policy based on recent decisions by the Fed and ECB and should maintain a firm footing at current levels to close out the week. The yellow metal now trades at $1464, just $4 off yesterday’s closing levels. Silver is up .4% to start the day.  The PGM’s, that have found support from recent auto sales figures  are also little changed from yesterday’s close. Platinum did manage to make a push higher, to ~$1519 in the overnight hours but has since given back ground and now trades just under $1500. Palladium crossed the $700 threshold but was unable to maintain and has since fallen back to $694. Factory orders and a service-sector index will round out the day’s economic data. Have a great day and an even better weekend!

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