Morning Gold & Silver Market Report – 1/3/2011
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,420.10
- Silver price - $30.96
- Platinum price - $1,783.10
- Palladium price - $802.40
COMMENTARY: Although our web site is open 24/7, APMEX did close our offices on Friday, 12/31/2010, to observe the holiday. Since our Closing Gold & Silver Market Report on Thursday, 12/30/2010, at 4PM (CT), precious metal prices have moved up sharply. Gold is within 1% of its all time high, while silver and palladium hit multi-year peaks.
This recent move is driven by pent up demand and the same old concerns about the euro debt crisis, inflation and the US deficit. Investors should keep an eye on the rhetoric flying back and forth between the Democrats and the Republicans over raising the US Debt limit. The democrats warn of a catastrophe, while the Republicans are insisting on deficit reductions first.
Since last Thursday at 4PM (CT), Gold spot price is up $15.10 – Silver is up 50 cents - Platinum spot price is up $34.10 – Palladium price is up $14.40