Morning Gold & Silver Market Report – 2/10/2011

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

  • Gold price - $1,354.50
  • Silver price - $29.91
  • Platinum price - $1,832.00
  • Palladium price - $820.00

 

COMMENTARY: Gold spot price is currently off $11.50 – Silver spot is down 44 cents – Platinum spot price is off $27.40 – Palladium price is down $8.50

Despite jobless claims dropping to their lowest levels since July 2008, the stock market is poised to open lower and precious metal prices are down. Precious metals have been active lately especially with the fear of inflation escalating world wide. The Bank of England announced that it will keep its key interest rate at its current record low of 0.5%. The bank is betting that the threat of inflation is only a temporary threat and that England’s economic recovery is still far in the distance. JP Morgan came out on Tuesday with a statement that they are now allowing gold to be used as collateral. Although this should not be used as an indicator on how much JP Morgan projects gold prices to rise, it would indicate they are not concerned about a major correction.

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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 2:59:54 AM EST

Metal Bid Ask Change
Gold $1,285.80 $1,287.80 $1.20
Silver $19.38 $19.48 ($0.01)
Platinum $1,392.70 $1,402.70 ($1.20)
Palladium $781.00 $786.00 ($1.10)
4/24/2014 2:59:54 AM EST

Click here for Historical Charts*All Charts are in USD


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