Mid-Day gold & Silver Market Report – 2/22/2011

2/22/2011 12:25:29 PM By: Peter LaTona

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,399.30
  • Silver price - $32.93
  • Platinum price - $1,786.80
  • Palladium price - $805.00

 

COMMENTARY: The stock market is down 150 points and they are dragging the industrial precious metals along with it. Platinum spot price is currently down $56.50 and palladium price has sunk $54.50. Gold and silver have come off the day’s highs, but their safe haven appeal continues to attract investors. Gold spot price is up $10.50 and silver price is up 60 cents.

Oil is approaching a two year high as the situations in the Middle East continue to deteriorate. As oil prices spike, inflation fears will grow and the price of gold usually will trend upwards. At least 250 people died overnight in Libya.Muammar Gaddafi has vowed to die a martyr before giving in to protests.

Wisconsin is in the news, but they are not alone in struggling with huge public pension fund obligations. Many state and municipal governments are required to balance their budgets and unlike the federal government, they cannot just print money.In their budget battles, they really do have to put everything on the table.

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Disclaimer:

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.

US Dollar Prices are in USD

Precious Metal Prices
6/20/2013 1:22:33 AM CST

Metal Bid Ask Change
Gold $1,343.10 $1,345.10 ($30.90)
Silver $21.05 $21.15 ($0.60)
Platinum $1,402.00 $1,412.00 ($13.90)
Palladium $682.70 $687.70 ($8.70)
Last updated : 6/20/2013 1:22:33 AM CST

Click here for Historical Charts*All Charts are in USD

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