Mid-Day Commentary – 10/21/2010
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,323.30
- Silver - $23.24
- Platinum - $1,670.70
- Palladium - $590.00
COMMENTARY: The Washington Post reported this morning that the federal bailout for Fannie Mae and Freddie Mac, could more than double in size the next three years, which could cost the taxpayers as much as $215 billion dollars. The Equity Markets (which had been climbing) and the Precious Metal Markets (which was down slightly) both began to lose ground rapidly on the news. The US Dollar is now in positive territory, after beginning the day in the red. Gold is down $17 from the Morning Commentary…Silver down 50 cents…Platinum down $3…Palladium down $6.50
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