Our Daily
Market Reports

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

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

  • Gold price - $1,389.90
  • Silver price - $32.70
  • Platinum price - $1,838.40
  • Palladium price -$852.60

 

COMMENTARY: Precious metal prices for the most part moved up today with silver leading the way in a very volatile trading session. Silver spot price almost breached $33.00 before settling back to $32.70. Gold spot price was up $4.30 – Silver price was up $1.05 – Platinum was the lone metal down $5.60 – Palladium price was up $7.60

Silver spot price did rise to its 30 year high today, while gold climbed to its one month peak. It turned out that Egypt did approve Iran’s request to move two warships through the Suez Canal. Violence keeps spreading in the Middle East. Violence will continue to stimulate gold’s safe haven appeal.

The relationship of Platinum to gold is generally between 1.5 to 2.4. At today’s close, it was 1.32. This could be an indication that platinum is currently undervalued. Do your own research, but should you decide to buy, platinum bars are a great way to invest in platinum.

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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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