Our Daily
Market Reports

Closing Gold & Silver Market Report – 2/17/2011

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

  • Gold – $1,384.90
  • Silver – $31.81
  • Platinum – $1,847.70
  • Palladium – $845.30

COMMENTARY: Precious metals prices are still on the rise this afternoon, with gold at a 5-week high and silver at a 30-year high.  The driving force continues to be the unrest in the Middle East, especially over the news of Iranian warships headed to the Suez Canal.  Combined with the domestic inflation fears, this geopolitical tension has increased the safe-haven demand for gold and other metals.  Silver jumped nearly 3% thanks to record levels of investor buying that has drained mints of their coins.  Some mints, like the Royal Canadian Mint and the Austrian Mint, have started rationing sales.

Gold spot price is up $9.30 on the day.  Silver spot price is up $1.11.  Platinum spot price is up $13.40.  Palladium spot price is up $4.90.

Many of our APMEX silver bars are now in stock.  Check them out here.

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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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