Morning Gold & Silver Market Report – 12/8/2010
At 8AM (CST) the APMEX precious metals prices were:
- Gold price – $1,392.00
- Silver price – $29.05
- Platinum price - $1,686.50
- Palladium price - $730.10
COMMENTARY: The drop in metals pricing has led many to believe a correction is being made. Hwang Il Doo, senior trader at Korea Exchange Bank Futures Co., believes this current move is a simple cash-in to allow investors a profit-taking opportunity. Savvy investors can see through this hiccup. “With all the concerns that are around day-to-day, investment demand still remains supportive for gold,” said Standard Bank analyst Walter de Wet. Today’s news and insights continue to illustrate the overall stability of the precious metals market.
Gold price is down $17.00 – Silver spot price is down $0.73 – Platinum price is down $19.70 – Palladium spot price is down $8.60
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.