Morning Gold & Silver Market Report – 2/3/2011

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

  • Gold price - $1,338.10
  • Silver price - $28.50
  • Platinum price - $1,832.40
  • Palladium price - $813.00

 

COMMENTARY: Precious metal prices were down in overnight trading, but they are rebounding this morning. Gold spot price is up $5.50 – Silver price is up 14 cents – Platinum spot price is up $3.80 – Palladium spot is up 50 cents

Egypt continues to dominate the news as the opposition continues to gain strength. They have made it clear that they will accept nothing less than an immediate resignation from President Mubarak and that they are not interested in discussions. The violence that began suddenly on Wednesday continues and at least six protesters were killed in overnight fighting. This is a fluid situation with no end in sight and no apparent leader to step in and fill the void if President Mubarak is removed. Political  leaders around the globe will continue to monitor this situation closely.

Jim Rogers, CEO of Rogers Holdings, commented today that there will probably be more political and social unrest, which will create more turmoil with currencies, which will continue to drive up commodities. This should put upward pressure on gold prices which is utilized against currency fluctuations.

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Disclaimer:

APMEX’s ‘News and Commentaries’ 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.

US Dollar Prices are in USD

Precious Metal Prices
4/24/2014 9:51:27 PM EST

Metal Bid Ask Change
Gold $1,292.00 $1,294.00 $1.40
Silver $19.51 $19.61 ($0.14)
Platinum $1,404.30 $1,414.30 $4.70
Palladium $796.80 $801.80 ($1.50)
4/24/2014 9:51:27 PM EST

Click here for Historical Charts*All Charts are in USD


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