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Market Reports

Morning Gold & Silver Market Report – 1/26/2011

At 8AM the APMEX precious metal prices were:

  • Gold price - $1,332.90
  • Silver price - $26.88
  • Platinum price - $1,793.40
  • Palladium price - $792.30

 

COMMENTARY: No matter what your thoughts are on President Obama’s State of the Union Address last night, there were indicators his administration would be more business friendly and there was an appeal that we have turned the corner and we are heading for better economic times. The stock market is poised to open higher on this optimism. Platinum and palladium, due to their industrial uses, are going up this morning as well.Gold and silver were off their morning highs, but appear to be stabilizing for now.

President Obama is proposing a 5-year freeze on non-discretionary defense spending, that would lower the US deficit by around $400 billion. Well known economist, Nouriel Roubini, speaking on CNBC today, discounted this cut as just “spare change”. He also brought up that the UK is facing two potential difficult blows in the form of spending cuts and higher inflation.

Gold spot price was down $1.40 – Silver price was up 2 cents – Platinum spot price was up $5.20 – Palladium spot is up $6.50

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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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