by
Peter LaTona
December 29, 2010
At 4 PM (CT) the APMEX precious metals prices were:
- Gold price - $1,412.50
- Silver price - $30.63
- Platinum price - $1,760.60
- Palladium price - $795.10
COMMENTARY: The news that central banks in emerging markets are getting themselves ahead of the inflation curve sparked a nice rally for stocks, which was also aided by a stronger than expected sale of US Treasury Bonds. However, even though stocks rallied, the US dollar’s value remained on the low side and potentially could be cut in half, according to Peter Schiff, the president of Euro Pacific Capital.
These factors helped support today’s gains in precious metals. Gold hit a three week high and silver was up as well.
Gold spot price was up $6.40 on the day - Silver price was up 30 cents – Platinum spot price was up $7.90 – Palladium price was up $7.00
Platinum and palladium continue to go up and two great ways to take advantage are the Platinum Eagles or the Palladium Pamp Suisse Bars.
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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.