Our Daily
Market Reports

Morning Gold & Silver Market Report – 1/24/2011

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

  • Gold price - $1,348.30
  • Silver price - $27.38
  • Platinum price - $1,822.70
  • Palladium price - $819.00

 

COMMENTARY: Precious metal prices are up in early morning trading as recent price drops attract current investors. Generally, current investors buy as the price drops to add to their positions, while new investors buy as prices go up thinking they need to get in. With a long term view in mind, both strategies provide the wealth protection gold provides.

Gold prices have retreated over the past three weeks on the expectation of an impending economic recovery. However, the data continues to project a long slow process. There appears to be more and more concerns with the lack of plans to tackle debt. In addition, our fragile economic recovery remains susceptible to “tail risks”. A “tail risk” defined as an unexpected, unpredictable event with severe negative consequences.

 

Gold spot price is up $5.80 – Silver is down slightly 11 cents – Platinum spot price is up $1.40 – Palladium price is up $1.30

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Our spot prices are subject to change during the following hours, excluding holidays:

 
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Silver
Platinum
Palladium
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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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