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Market Reports

Mid-Day Gold & Silver Market Report – 1/26/2011

At 12PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,333.20
  • Silver – $27.10
  • Platinum – $1,796.50
  • Palladium – $805.70

COMMENTARY: Gold is trading slightly down today, while silver and platinum are modestly up and palladium holding on to good gains. The stock markets are mostly higher today, and the Dow Jones Industrial Average topped 12,000 for the first time in almost three years. This is likely thanks to the optimism from yesterday’s State of the Union address. With all of the optimism, one would think metals would be dipping lower, so it’s possible that not everyone is sold on those thoughts. Mitsubishi analyst Matthew Turner says that, “Ultimately, the demand for gold will remain firm and will come back, but we’re going through a period where there is a lot of profit-taking coming through.”

During the President’s address last night, he mentioned that he supported a bill that would repeal a controversial part of the health-care law. Precious metals dealers and investors alike have been concerned with this part of the law, and the bill that the President supports has been gaining a lot of other support as well.

Gold is down $1.10. Silver is up 23 cents. Platinum is up $10.20. Palladium is up $19.90.

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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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