Our Daily
Market Reports

Closing Gold & Silver Market Report – 1/6/2011

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

  • Gold price – $1,372.40
  • Silver price – $29.12
  • Platinum price – $1,735.00
  • Palladium price – $763.30

COMMENTARY: Today’s news stays steady on its positive outlook for the stock markets as well as the U.S. dollar moving slightly higher recently. Fewer Americans filed for unemployment checks which boosts prospects for the labor market whose numbers will be released tomorrow. “You’re at the bottom of the trading range, and so there will be bargain hunters,” said Frank McGhee, head dealer at Integrated Brokerage Services in Chicago, “If all the jobs numbers come to fruition, there will be some element of reflation, and the initial sellers in gold this week will become buyers.” There is also news that Stillwater Mining will provide palladium to General Motors until 2013 that might affect palladium’s prices. In all, it seems as though the precious metals numbers may be affected by tomorrow’s jobs report.

Gold spot price is down $2.30 – Silver spot price is down 10 cents – Platinum spot price is up $2.90 – Palladium spot price is down $13.10

We are now taking pre-orders for 2011 Gold American Eagles, and the Silver Pandas are going fast, so take advantage of the spot prices while they are low!

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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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