Closing Gold & Silver Market Report – 12/20/2010
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,386.40
- Silver price - $29.38
- Platinum price - $1,713.50
- Palladium price - $744.50
COMMENTARY: Precious metal prices held their gains throughout the afternoon. Investor demand is very stable and the demand for the physical puts a floor under prices. Chen Xin Yi of Barclays Capital said today that “buyers realized that prices are not going to correct very much. Investor demand is stable.” There has been much written in the past couple of weeks about the improved economic outlook for 2011. The housing forecast coming next week may not be painting the same rosy picture. Housing was at the epicenter of the financial crisis and next week’s numbers might be indicative of further erosion in the housing market.
Gold spot price was up $7.20 – Silver spot up 26 cents – Platinum spot price up $14.00 – Palladium spot is up $4.90
The 2011 Gold & Silver Chinese Pandas are beautiful works of art and a must for any world collector of bullion coins.
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.