At 12PM (CT), the APMEX precious metal prices were:
- Gold - $1,373.20
- Silver – $30.73
- Platinum – $1,831.90
- Palladium – $842.80
COMMENTARY: Precious metals are trading slightly lower since the morning commentary amid a Wall Street slump. Retail earnings came in underwhelming, which is likely what is causing stocks to be down. Another factor in metals prices being in the black could be worries of a flare-up in the euro zone debt crisis. As predicted by many, there are fears that Portugal will need to seek a bailout from the European Union, following Greece and Ireland’s bailouts last year. These, along with the unrest in the Middle East, could be leading traders to seek the wealth protection that gold provides.
Gold spot price is up $7.60. Silver spot price is up 13 cents. Platinum spot price is up $4.30. Palladium spot price is up $8.00.