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Market Reports

Closing Gold & Silver Report – 2/11/2011

At 4 PM (CT) the APMEX precious metals prices were:

  • Gold price – $1357.40
  • Silver price – $29.96
  • Platinum price – $1805.00
  • Palladium price – $815.50

COMMENTARY: Precious metals trended down today on the news that President Mubaraks has stepped down. Precious metal prices had been fairly stable despite the on going turmoil. Worldwide inflation concerns had driven precious metals prices up earlier in the week. Silver had once again crossed the $30 barrier and silver prices are still going strong as they have closed above $30 for the last three days. There are some who feel that the jubilation of President Mubarak might be premature.Jon Alterman of the Center for Strategic and International Studies said, “This is just the end of the beginning,” and that “Egypt isn’t moving toward democracy, it’s moved into martial law and where it goes is now subject to debate.”

More news holding back metals and boosting the stock markets was that consumer confidence rose to the highest levels in eight months. Experts are saying this is signaling consumer spending and may keep contributing to the expansion of the economy and job market. With all the news swirling around both good and bad, it will be interesting to see how the changes effect metals prices since they offer a safe-haven from the storms of inflation and geopolitical turmoil.

APMEX has now received more 2011 Silver American Eagles, get them while they are in stock!

The Gold spot price is down $5.50 – Silver price is down 22 cents – Platinum spot price is down $25.80 – Palladium price is down $7.40

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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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