Closing Gold & Silver Report – 1/14/2011
At 3:15 PM (CT) the APMEX precious metal prices were:
- Gold price: $1362.90
- Silver price: $28.51
- Platinum price: $1816.00
- Palladium price: $798.90
COMMENTARY: The brighter outlook of the euro zone debt crisis, due to the successful bond bids of Portugal, Spain and Italy, and the Chinese monetary reserve requirement to reduce inflationary impact are leading to an overall better global economic outlook. The positive outlook is tempering the safe haven appeal of precious metals. However, according to Julian Phillips of GoldForecaster.com the news has not truly changed the euro zone sovereign debt problem. Mark O’Byrne of GoldCore also adds that this seems to be “a typical period of correction and consolidation as gold continues to climb the wall of worry in typical ‘two step forward, one step back’ bull-market fashion.”
Gold spot price is down $25.60 – silver price is down 78 cents – platinum price is down $4.20 – palladium price is down $15.60
With market correction seeming to take place a couple of items to keep in mind over the weekend could be Perth Mint Gold Bars or the Pamp Suisse Gold Bar, while the market corrections last.
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.