Our Daily
Market Reports

Closing Gold & Silver Market Report – 1/4/2010

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

  • Gold price - $1,383.00
  • Silver price - $29.85
  • Platinum price - $1,761.40
  • Palladium price - $780.00

 

COMMENTARY: Precious metals prices went through (as some would say) a much needed correction today. December was a month of sharp increases  so giving some back is not necessarily a bad thing. Investors showed an appetite for risk, so the equity market has been popular for two days in a row now.  We would point out that there has been no significant financial news to drive the stock market up, just an enthusiastic optimism for the new year. There was also no news that can be credited with driving precious metal prices down. Emotion seems to be the key ingredient because there is no obvious catalyst for the “pop” in stocks or the “drop” in precious metals.

Gold has advanced 30% in the year 2010 and this was the first meaningful selloff in several weeks, says Charles Nedoss, a senior market strategist at Olympus Futures in Chicago. He also said, “We’re seeing [investors] shaking the money tree. The longer-term [upward] trend for gold is still intact. This is just a blip.” When prices go up quickly as they did yesterday, investors tend to sell off what they own in efforts to rebalance their assets due to the expert’s recommendations of keeping precious metals just 4-14% of your investable assets. Sometimes this means selling your metals to compensate for the sharp gains.

« Return to Commentaries

World Market Trading Hours

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

 
Gold
Silver
Platinum
Palladium
CONMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM