Mid-Day Gold & Silver Market Report 1/25/2011
At 12 PM (CT) the APMEX precious metal spot prices were:
- Gold: $1,333.70
- Silver: $26.90
- Platinum: $1,786.10
- Palladium: $786.00
COMMENTARY: The safe-haven appeal of precious metals seems to be waning over increased consumer confidence and the outlook for jobs looking a lot more favorable. The economic conditions are still tempered by global concerns, especially those involving the unexpected decline in the British economy and concern over Spain’s plan to strengthen its banking sector. However, analysts are still confident in the long term outlook for gold. Baycram Dincer of LGT Capital Management in Switzerland says, “The fact that people will continue to hold gold and further increase investment in gold makes us very bullish for the precious metal."
Gold spot price is down $12.80 – Silver price is down 49 cents – Platinum spot price is down $32.50 – Palladium price is down $31.60