Mid – Day Commentary – 10/25/2010
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,336.30
- Silver - $23.52
- Platinum - $1,695.90
- Palladium - $611.00
COMMENTARY:The price of gold, silver, platinum and palladium have retreated from earlier morning highs, but gains are still substantial. Gold spot is up $10.70 – Silver spot price up 38 cents – Platinum spot up $21.80 = Palladium spot up $17.90. Good news - existing home sales rose 10%, which was the biggest monthly gain in 28 years. Bad news - it is was still the third worst sales month on record. Investors are closely watching for more information on the current “foreclosure mess”. Are banks foreclosing on properties they do not actually own? There will be more to come.
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.