Our Daily
Market Reports

Morning Gold & Silver Market Report – 1/13/2011

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

  • Gold price: $1,393.50
  • Silver price: $29.79
  • Platinum price: $1,828.10
  • Palladium price: $823.70

COMMENTARY: Gold and silver are starting to rise this morning amid a number of news stories and data. Spain today, like Portugal yesterday, had what was considered to be a successful bond auction, which has driven up the euro versus the dollar. The dollar is also falling because of data released this morning: A larger-than-expected spike in jobless claims point to the labor market still being in a rut amid other signs of an improving economy. Platinum and palladium continue their upward trend due to increasing industrial demand and optimism from the automobile industry. Also, scientists have developed a new type of damage-tolerant metallic glass that uses palladium and is said to be “tough as steel.” This is creating a decent amount of buzz and will have an impact on palladium demand.

Gold spot price is up $6.70 on the day – Silver is up 22 cents – Platinum is up $29.00 – Palladium is up $15.90.

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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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