Mid-Day Gold & Silver Market Report
At 12PM (CT) the APMEX precious metal prices were:
- Gold price – $1,371.50
- Silver price – $28.83
- Platinum price – $1,826.50
- Palladium price – $821.50
COMMENTARY: Gold is trading slightly up, silver slightly down, while platinum and palladium hold on to their gains. As mentioned earlier, optimism on the industrial side (automobiles, for example) is driving the prices of the latter two precious metals up, along with supply concerns on palladium’s end. U.S. stocks are mixed today, as large companies like American Express announced layoffs, which dropped their stock, while IBM reported a near doubling of second-quarter net income, bringing their price up.
The Euro is gaining today amid thoughts that the debt crisis in Europe is under control, and the U.S. dollar is weakening. However, countries like Greece and Portugal seem to tell a different story.
Gold spot price is up $2.00 on the day – Silver spot price is down 13 cents – Platinum spot price is up $9.60 – Palladium spot price is up $10.00.
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.