Closing Gold & Silver Market Report – 2/15/2011
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,374.80
- Silver price - $30.81
- Platinum price - $1,834.40
- Palladium price - $838.80
COMMENTARY: G-20 Summits normally receive a great deal of press coverage prior to their meetings. Well, they are getting ready to meet again this week and they are barely a blip on the radar screen. The US is going to once again press China on their currency. How long have we be hearing this now? Is the US in any position to pressure China? The G-20 turned into G-0 and got buried by stories out of Egypt and the Middle East.
The current big story continues to be the President’s $3.7 trillion budget proposal. It is raising the fear of inflation and causing safe haven investments like gold and silver to go up. Will the politicians be the last to figure out we cannot keep spending money we do not have? Are they really that much more concerned with re-election than what is best for our country? We keep hearing pleas from both sides that they need to work together, but when? Perhaps the next election cycle and then the one after that and so on. No wonder people are buying more gold and silver today. We do have the responsibility to protect our own wealth.
Gold spot price is up $8.50 – Silver price is up 21 cents – Platinum spot price is up $8.80 – Palladium price is up $4.00
Platinum American Eagles are not always readily available, but we have a nice supply right now. If you prefer gold and would like something different from across the pond, you might consider the Gold Swiss 20 franc. If your taste is for silver and you want something beautiful and different, then check out these coins from the Chinese New year!