Morning Gold & Silver Market Report – 1/7/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,368.10
  • Silver price - $28.80
  • Platinum price - $1,737.70
  • Palladium price - $753.60


COMMENTARY:Precious metal prices are already rebounding off their morning lows. The Labor Department’s nonfarm jobs report for new jobs created in December was released, and there is disappointment in the air. 103,000 jobs were created in December, below most economists’ expectations of 175,000 – 200,000. The optimism had been high after the ADP released a report on Wednesday showing private-sector job increases of 297,000. The unemployment rate fell 0.4%, however, after expectations of it remaining flat at 9.8%. The Federal Reserve will likely be going through with its $600 billion bond-buying plan after the optimism this week brought about calls to scale it back.

In international precious metals news, China has estimated its gold output for 2010 at a record 340 tonnes, compared to 313.98 tonnes in 2009 (an increase of more than 8 percent). Since 2004, China has raised its gold production every year. This trend will put pressure on gold prices to go up as it clearly indicates China’s intention to increase their gold reserves..

Gold spot price is currently down only $3.50 – Silver spot is down 20 cents – Platinum spot price has rebounded all the way to up $4.20 – Palladium spot price is off $7.90

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APMEX’s ‘News and Commentaries’ 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.

US Dollar Prices are in USD

Precious Metal Prices
4/23/2014 3:33:31 PM EST

Metal Bid Ask Change
Gold $1,285.00 $1,287.00 $3.90
Silver $19.39 $19.49 $0.08
Platinum $1,394.80 $1,404.80 $4.50
Palladium $782.60 $787.60 $3.00
4/23/2014 3:33:31 PM EST

Click here for Historical Charts*All Charts are in USD

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