COMMENTARY: Gold was up slightly today, but still down for the week. Jim Cramer is saying to buy gold on these dips. Mr. Cramer is emphatic that gold is now a currency and not a commodity. In addition to the many other reasons for buying gold, he states that supply and demand will contribute to increasing prices and we should see $2000 an oz within five years. I have spoken before that as traders book profits before December31, gold prices may continue to dip. However, these same traders might get right back in come January 3. Now may be the time to buy.
Gold spot price was up $5.10 – Silver price was up 44 cents – Platinum price down $1.30 – Palladium price down - $2.90
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.