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Market Reports

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

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

  • Gold price - $1,347.70
  • Silver price - $27.63
  • Platinum price - $1,812.60
  • Palladium price - $814.80

 

COMMENTARY:The Federal Open Market Committee announcement was not at all bullish on the economy nor was it impressed with the growth seen so far. Precious metal prices began to surge almost immediately afterwards. The FOMC made no changes and gave no indication they would stop pumping money into the economy through bond purchases.

The big question is, has gold shrugged off its tepid start in 2011 and ready to go on another record run? There are many reasons to expect that gold may be headed for new higher territories. There is the Euro zone crisis; the risk of financial crisis in Japan; a trade war between the US and China; growing geopolitical tensions and riots…just to name a few.

Gold spot price is up $13.40 – Silver spot is up 77 cents – Platinum spot price is up $26.30 – Palladium price is up $29.00

You hear over and over again how every investor needs gold to protect wealth. Gold is your insurance policy against all the risks mentioned above.  Simple gold bullion products are often the best way to invest. Gold American Eagles of all sizesGold bars from 1gram to 400oz

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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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