by
Eli Hamilton
December 3, 2010
At 4PM (CST) the APMEX precious metals prices were:
- Gold price – $1414.60
- Silver price – $29.44
- Platinum price - $1731.00
- Palladium price - $769.80
COMMENTARY: Multiple factors combine to increase the spot price of gold. It looks like the European Union may pass a measure regulating position limits which should increase the current demand for precious metals. In the United States, tax cuts look like they will be extended. This has driven up the price of many commodities including wheat, corn, oil, and soy.
Diversification seems to be the word of the day. Buying silver is a popular way to hedge against other investments.
Gold price is up $25.30 – Silver spot price is up $0.87 – Platinum price is up $16.90 – Palladium spot price is up $6.00
DISCLAIMER:
APMEX’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.