Closing Gold & Silver Market Report – 12/28/2010
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,407.20
- Silver price - $30.32
- Platinum price - $1,756.40
- Palladium price - $789.00
COMMENTARY: Precious metals prices are holding on to their gains from earlier in the day, with gold still above $1,400 and silver above $30. Marketwatch has a short summary of how metals hold a negative correlation to moves in the US Dollar. In related news, consumer confidence “deteriorated” in December, and the US housing market dropped more than expected in October, according to the S&P/Case-Shiller index. These are two factors of the value of the Dollar going down, which is driving metals prices up.
Gold spot price was up $23.80 – Silver spot price was up $1.05 – Platinum spot price was up $19.90 – Palladium spot price was up $20.90
Silver and Palladium had huge gains (3.5% and 2.7%, respectively) today. 2011 Austrian Silver Philharmonics (also part of our IRS sale) or Pamp Suisse Palladium Bars are great items to start or add to your portfolio.