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Market Reports

Closing Gold and Silver Market Report – 1/11/2011

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

  • Gold price - $1,382.30
  • Silver price - $29.56
  • Platinum price - $1,771.30
  • Palladium price - $786.00

COMMENTARY: The stock market looks to have found some higher ground for the day as the earnings season’s optimism is buoyed by the news of Japan buying part of the European debt along with China. However the concerns over Portugal and a potential European Union bailout are causing investors to retreat to the safe haven appeal of gold. “Where you have governments that are overindebted and need to get themselves out of that problem ... they can try to inflate their way out of difficulty, which is where you'd want to be holding gold instead, or can go down a route of fiscal retrenchment," said Natixis commodities analyst Nic Brown.

Gold spot price is up $7.20 - silver price is up 68 cents – platinum price is up $28.20 – palladium is up $35.40

When looking to precious metals from an investment perspective and for asset allocation, you may want to look at Perth Mint Gold Bars or possibly Sunshine Silver Bars.

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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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