Our Daily
Market Reports

Closing Gold & Silver Market Report -1/24/2011

At 4PM (CT) the APMEX precious metal prices:

  • Gold price - $1,335.00
  • Silver price - $26.98
  • Platinum price - $1,815.40
  • Palladium price  - $812.00

 

COMMENTARY: Precious metal prices gave into selling pressure and dipped this afternoon with Gold spot price off $8.10 – Silver spot price off 51 cents – Platinum price down $5.90 – Palladium price is down $5.80

The corrections going on in the precious metal markets are certainly not a great surprise when you consider the magnitude of recent gains (especially silver and palladium). Most technical analysts would say there is no cause for concern. There may be cause for concern when the spread between short and long-term borrowing hits the widest margins ever. The difference between borrowing from the government for 2 years and borrowing from the government for 30 years is at 4%. This is often referred to as the yield curve and this wide margin between short and long term borrowing is an unprecedented steepening of this curve. Economist can predict that this means anything from a booming stock market to what would be a catastrophic downgrade to the USA’s credit rating. Investors need to stay tuned.

Experienced precious metal investors know to buy on the dips and there is no better way than with brand new 2011 Gold American Eagles and 2011 Silver American Eagles.

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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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