Our Daily
Market Reports

Morning Gold & Silver Market Report – 12/14/2010

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price – $1,398.80
  • Silver price – $29.41
  • Platinum price - $1,703.90
  • Palladium price – $756.10

 

COMMENTARY: Gold spot price rose over $1400 in early morning trading, but has since retreated below that “psychological” barrier. Traders and investors will be closely watching the federal Reserve Board meeting today. The Fed officials will assess their latest $600 billion bond buying program, but will they send any new signals? Will the recent tax cut announcement affect their view on the method and amount of QE2? At least one Federal Reserve committee  member, Thomas M. Hoenig, continues to express his pessimism that QE2 was a good decision.

Another interesting note, some readers might be aware that JP Morgan has taken criticism for their “short” positions in silver. Betting that the price of silver will go down. It appears they have reduced their positions in the silver futures market.

Gold spot price is up 80 cents – Silver price is down 22 cents – Platinum spot price is up $5.60  - Palladium price is up $3.60

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Disclaimer:
APMEX’s ‘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, 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.

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