Closing Gold & Silver Market Report – 10/25/2010
At 4PM (CT), the APMEX spot prices were:
- Gold - $1,340.20
- Silver - $23.68
- Platinum - $1,701.00
- Palladium - $612.00
COMMENTARY: The US Dollar continues to be the driving factor in the price of gold and other precious metals. The chatter around the G20 will fade quickly, as the market is more interested in upcoming US Elections and Quantitative Easing. Palladium is on a role and could extend the 9-year high hit today on demand and continued concerns on supply. Today’s $10 billion auction of five-year Treasury inflation-protected securities (TIPS) received such a strong reception, that the resulting yield was negative for the first time. This is a strong indication that investors expect inflation to rebound as the Fed QE revives the economy.
For the day, Gold spot price is up $14.60 – Silver spot price is up 53 cents – Platinum spot price is up $26.90 – Palladium spot price is up $18.90
Many investors are increasing their Palladium positions with 10oz Palladium bars and Kilo Palladium bars.
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.