Our Daily
Market Reports

Mid – Day Gold & Silver Market Report – 12/21/2010

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,389.10
  • Silver price - $29.40
  • Platinum price - $1,722.40
  • Palladium price - $751.30

 

COMMENTARY: As predicted in this morning’s commentary, gold and silver are fluctuating within tight trading ranges. Platinum and palladium are the exceptions,as they continue an upward climb. South African mining companies supply 75%-80% of the world's platinum. There are reports that output will fall this year by 1% and next year will be challenged by a strong South African rand and rising mining costs. This should continue to support and/or boost both platinum and palladium prices.

Gold prices are being influenced by turmoil in African gold mines as delays are occurring due to lead poisoning in the children of the area. This will affect the supply and demand and will more than likely affect prices to some degree. Over-all the prices will probably move laterally due to the holiday season with people out of town and investing in gifts rather than metals.

Gold spot price was up $2.70  from the   morning commentary – Silver is up another 2 cents – Platinum price is up another $8.90 – Palladium price is up $8.00

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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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