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Mid-Day Gold & Silver Market Report – 1/24/2011

At 12PM the APMEX precious metal prices were:

  • Gold price - $1,345.00
  • Silver price - $27.34
  • Platinum price - $1,817.20
  • Palladium price -$816.40

 

COMMENTARY: Precious metal trading may be in for a bumpy ride today, as mixed messages make their way into the market. The US Dollar was down 0.41%, but the stock market is up near triple digits. These factors generally pull gold in opposite directions. The not so pleasant news, that the US taxpayers have spent more than $160 million dollars defending former top executives of Fannie and Freddie Mac is not sitting well. A closely guarded secret until last week, these costs will continue to go up as more of these civil suits will surface.

On a more serious note,31 people will killed today by a suicide bomber at Russia’s largest airport.

 

Gold spot price is up $1.90 – Silver price is down 16 cents – Platinum spot price is down $3.20 – Palladium price is down $1.40.

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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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