Mid-Day Gold & Silver Market Report – 2/8/2011

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

  • Gold price - $1,369.00
  • Silver price - $30.31
  • Platinum price - $1,861.70
  • Palladium price - $840.60


COMMENTARY: Gold prices continue to surge and are now up $20.30. Silver spot price has once again crossed $30 and is up 90 cents on the day. Platinum spot price is up $17.50 and palladium price is up $19.60

Inflation has the market’s attention today. When China raises interest rates to curb inflation, gold prices generally drop, as its safe haven value is perceived to decline. Why is gold climbing today? The inflation picture in China might be bringing more focus on the potential for inflation in the US and Europe.  Representative Paul Ryan, while appearing on CNBC this morning, claims that the Fed is missing their opportunity to stave off inflation. He fears that if inflation is not pre-empted now, by the time it is addressed it will be a serious and unpreventable event.

No wonder smaller investors continue to be cautious of the stock market. Yesterday it was revealed that the NASDAQ has been hacked and today yet another story of hedge fund managers getting arrested for insider trading. It looks like whenever federal prosecutors cast their lines that there are plenty of fish to catch. Can the small investor get a fair break? Good question.

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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
4/16/2014 9:17:14 PM EST

Metal Bid Ask Change
Gold $1,301.70 $1,303.70 ($1.80)
Silver $19.54 $19.64 ($0.04)
Platinum $1,426.60 $1,436.60 ($1.20)
Palladium $797.60 $802.60 ($0.70)
4/16/2014 9:17:14 PM EST

Click here for Historical Charts*All Charts are in USD

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