Our Daily
Market Reports

Mid- Day Gold & Silver Market Report – 1/20/2011

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,349.60
  • Silver price -$27.58
  • Platinum price - $1,819.00
  • Palladium price - $813.40

 

COMMENTARY: Precious metal prices are down this morning as Brazil is leading a charge to control inflation by raising interest rates.  Investors are watching whether or not China will take additional measures after announcing a higher than expected growth rate of 10.3% for 2010. The US Dollar is also up, which puts additional pressure to drive gold price down.

Precious metals investors should stay aware that gold’s function in your investment portfolio is protection from the many unexpected negative events that cause the core asset classes to come down. Despite today’s correction, investors should continue to look for ways to get into precious metals, says Doug Roberts at Channel Capital research. With the Fed still pumping cash into our system the US Dollar will eventually decrease and gold will outperform.

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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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