Our Daily
Market Reports

Morning Gold & Silver Market Report – 12/28/2010

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,403.70
  • Silver price - $29.86
  • Platinum price - $1,753.50
  • Palladium price - $778.40

 

COMMENTARY: Precious metal prices are rising sharply this morning. Gold price has once again broken $1400 and is up $20.20. Silver spot price is set to challenge $30 as it is up 59 cents. Platinum and palladium continue their winning streak, as Platinum spot price is up $17.00 and Palladium price is up $10.30

Gold is up on a weaker US Dollar, as well as increased buying coming out of Asia. So why is the US Dollar declining rapidly today? Today’s Case-Shiller report indicates that home prices are falling faster in the larger cities. Not only are prices dropping,but they are expected to continue dropping throughout the year.Housing could be just part of the concern. Every bit as much a factor is the looming US trade deficit and the larger Federal deficit. We should remember that a falling US Dollar could hit many Asian countries very hard, as they hold a huge portion of their foreign currency reserves in US Dollars.

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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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