Mid – Day Commentary – 10/20/2010
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,347.40
- Silver - $23.89
- Platinum - $1,686.50
- Palladium - $592.50
COMMENTARY: The Atlanta Fed President, Dennis Lockhart, indicated that further monetary stimulus might take the form of 100 million dollars per month bond buys. In a CNBC interview he stated, “if we are going to pursue another round of quantitative easing, it has to be a large enough number to make a difference.” By virtue of putting an actual number on the possible QE, it would indicate that there have been discussions, and that the easing could be significant. Metals markets react positively to this news and drift upwards throughout the morning.Gold up $10 –Silver up 22 cents – Platinum up $14.50 – Palladium up $11.
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