Morning Gold & Silver Market Report – 1/18/2011

1/18/2011 8:17:43 AM By: Peter LaTona

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

  • Gold price - $1,375.00
  • Silver price - $28.92
  • Platinum price - $1,825.80
  • Palladium price - $808.00

 

COMMENTARY: Precious metal prices are up sharply in early morning trading. Gold price is currently up $13 – Silver spot price is up 57 cents – Platinum price is up $10.80 – Palladium spot price is up $16.40

From time to time it is helpful to step back and recognize that gold is a currency recognized and traded worldwide. Today’s increase is being driven by Asian buyers concerned about the European debt crisis. Bruce Ikemizu, head of commodity trading at Standard Bank Pls in Tokyo stated yesterday that he was pessimistic that problems will be resolved overnight and that the European financial problem will be a long term bullish factor for precious metals.

Chinese President Hu Jintao arrives in Washington this week to continue efforts to improve relations between the US and China. President Hu’s has made it clear that China intends to move forward on opening its markets, but at its own pace. They will not be pressured by external concerns who wish this to happen quicker and more broadly.

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Disclaimer:

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
6/20/2013 4:37:11 AM CST

Metal Bid Ask Change
Gold $1,299.90 $1,301.90 ($74.30)
Silver $20.06 $20.16 ($1.58)
Platinum $1,385.80 $1,395.80 ($30.10)
Palladium $675.30 $680.30 ($16.10)
Last updated : 6/20/2013 4:37:11 AM CST

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