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Market Reports

Mid-Day Gold & Silver Market Report – 2/7/2011

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

  • Gold price - $1,350.00
  • Silver price - $29.39
  • Platinum price - $1,845.60
  • Palladium price - $821.50

COMMENTARY: Overall, precious metal prices have remained relatively stable for the day. The stock market seems to be rebounding with all the corporate deals and earnings, highlighted by the acquisition of The Huffington Post by AOL. There is also increased optimism surrounding President Obama’s meeting with top companies on restructuring individual company tax code with a focus on job creation. Precious metals pricing is in a wait-and-see mode at this point. There is still long term appeal of the ownership of precious metals (gold in particular), as Pradeep Unni, a senior analyst at Richcomm Global Services reiterates, "(But the) long-term trend seems to be completely biased northwards, and the decade-old rally will extend further."

 

Gold spot price is up 50 cents – Silver spot price is up 27 cents – Platinum is down 20 cents – Palladium is up $3.00

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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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