Our Daily
Market Reports

Morning Gold & Silver Market Report – 2/18/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,385.80
  • Silver price - $31.83
  • Platinum price - $1,838.10
  • Palladium price - $849.80

 

COMMENTARY: Gold and silver prices are up slightly this morning, despite the announcement that China raised bank reserves by 50 basis points. This move to curb inflation was brought after the Chinese inflation numbers went from 4.6% in December to 4.9% in January. Perhaps gold and silver are up and not down because they react positively, when Fed Chairman Ben Bernanke speaks. Mr. Bernanke once again finds himself defending the Fed QE2 policies. He claims that it is not easy money policies that are overheating emerging market economies, it is exchange rate rigidity. I do not know what to say about that, but I will point out that silver just hit a 30-year high. Some say it will go even higher.

The G20 is split down the middle on how to implement policies to avert future global financial meltdowns. Although not comforting, it is also hard to assess the importance of these G20 Summits. Little, if any actionable items emerge from these meetings.

Gold spot price is currently up $1.40 – Silver price is up 22 cents – Platinum spot is down $3.80 – Palladium price is up $4.20

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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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