Mid-Day Gold & Silver Market Report – 2/21/2010
At 12PM (CT) the APMEX precious metals prices were:
- Gold – $1,407.10
- Silver – $33.95
- Platinum – $1,854.00
- Palladium – $860.00
COMMENTARY: As the precious metals market prepares to close at 12:15 PM (CT), prices continue to rise. Libya’s credit rating has taken a hit from Fitch Ratings amid the political turmoil they are experiencing. Fitch also warns that the rating could dip farther without a resolution to the crisis. The protests have now reached the Libyan capitol, and over 200 people (dozens more overnight) are reported to have been killed.
The Euro Zone debt crisis still isn’t over. There are still fears that other countries may need assistance from the European Union, but even those who have received assistance are not in the clear yet. Greece and Ireland are still having issues. It’s no wonder that precious metals prices are on the rise with the geopolitical tensions in the Middle East and financial worries across the globe boosting the safe-haven appeal of the metals.
Gold spot price is up $18.00 on the day. Silver spot price is up $1.57. Platinum spot price is up $10.70. Palladium spot price is up 40 cents.