Morning Gold & Silver Market Report – 10/26/2010
At 8AM (CT) the APMEX spot prices were:
- Gold - $1,334.90
- Silver - $23.38
- Platinum - $1,698.50
- Palladium - $609.00
COMMENTARY:The US Dollar is up moderately against most rivals in morning trading.Many analysts see the dollar stabilizing in the short term because the effect of the expected quantitative easing is already built into the price structure. The one exception was the British pound, which surged on the news of stronger than expected economic growth in the UK. Concerns on foreclosure problems at US Banks will continue to be a factor, until there is more transparency and information.
Gold spot prices are down $5.30 since yesterdays Closing Commentary – Silver spot down 30 cents – Platinum spot down $2.50 – Palladium spot down $3.
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.