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Morning Gold & Silver Market Report – 2/8/2011

At 8AM the APMEX precious metal prices were:

  • Gold price - $1,363.70
  • Silver price - $29.75
  • Platinum price - $1,852.20
  • Palladium price - $825.00

 

COMMENTARY: Precious metal prices are beginning to rise as Gold spot is currently up $15.00 –Silver price is up 34 cents – Platinum spot price is up $7.20 – Palladium price is up $4.00

The news that China is raising interest rates for the second time in six weeks would normally suppress precious metal prices, but it may be going in the opposite direction today. Perhaps it is the concern that the inflation China faces now could be the same inflation we face in the near future.

You would think the lessons learned by the credit collapse in 2008 would not need to be repeated any time soon,but CNBC Senior Editor, John Carney thinks the credit markets are going berserk again. Largely as a result of the Fed’s monetary policy, the market is flooded with cash seeking better yields.  Deals based on looser covenants will put pressure on investment banks to go after more aggressive deals for their wealthier clients. Often,these deals become more and more creative in their structuring. Where have we seen this before?

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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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