Our Daily
Market Reports

Closing Gold & Silver Market Report – 1/3/2011

At 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,415.30
  • Silver price - $30.72
  • Platinum price - $1,782.10
  • Palladium price - $793.90

 

COMMENTARY: Considering that the stock market boomed on the first day of 2011 trading, precious metal prices held their ground. Data came out indicating improving manufacturing conditions and rising construction spending. However, no matter what theme is in play at the time, there is always another side to the story. Technicians fear that the current low level of investor fear, (as measured by the VIX), is not sustainable, and any type of shock could cause a sharp downturn in the market.

We have often repeated that gold is about protecting wealth and that every investor needs an insurance policy against all the potential shocks that could rock the marketplace.

Gold spot price finished the day off $7.10 – Silver spot was down 24 cents – Platinum spot price was up $7.80 – Palladium price was down $10.40

Silver was up over 81% in 2010. For those investors who continue to be bullish on silver you can now pre-order the 2011 American Silver Eagles. For those who prefer silver bars or rounds, we have a great selection from Silver Towne.

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World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
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Monday-Friday
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Monday-Friday
8:20AM-1:05PM
Monday-Friday
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Monday-Friday
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Monday-Friday
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Monday-Friday
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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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