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Market Reports

Morning Gold & Silver Market Report – 1/28/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,315.10
  • Silver price - $26.86
  • Platinum price - $1,789.60
  • Palladium price - $809.30

 

COMMENTARY: The economy grew at a slightly less than expected 3.2% in the fourth quarter. It was supported by the largest gain in consumer spending in over four years. However, the unemployment picture remains bleak especially  for the millions of unemployed. It will take much stronger growth to put a dent in the unemployment.

Precious metal prices have been down so far in 2011 as a result of upbeat economic data. Those who feel strongly  that the economy is recovering, may be shifting safe haven investments to riskier positions. Those who still see this as an on going fragile situation are adding to their positions. No matter what you feel, gold is an insurance policy that needs to be part of your portfolio. The US has taken many actions that could greatly devalue the dollar. Today, the Chinese rating agency is making this accusation and blames the US for a credit war.

Gold spot price is currently down $3.40 – Silver price is down 16 cents – Platinum price is down $9.70 – Palladium is down $5.30

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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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