Mid – Day Gold & Silver Market Report – 12/20/2010
At 12PM the APMEX precious metal prices were:
- Gold price - $1,387.90
- Silver price - $29.35
- Platinum price - $1,710.00
- Palladium price - $744.70
COMMENTARY: Metal prices are still up for the day, but have backed off morning highs. This is a time of year to expect sideways trading, unless an impactful event should occur. This is why we are closely monitoring the situation between North and South Korea. Dr. Peter Morici stated on CNBC that with these new tax cuts, perhaps US Treasuries should be downgraded to junk. He goes on to say that if it were any other government, Moody’s would have already downgraded us, but because the US is the world's currency, we are treated different. Nevertheless, long term US Treasuries are becoming a risky investment.
Gold price is up $1.50 from this morning’s commentary – Silver price is up another 6 cents – Platinum price is up $1.40 – Palladium price is up $5.30