Our Daily
Market Reports

Morning Gold & Silver – 2/23/2011

At 8:12 AM (CT) the APMEX precious metals prices were:

  • Gold price - $1403.40
  • Silver price - $33.16
  • Platinum price - $1793.40
  • Palladium price - $810.00

COMMENTARY: The major news at the start of the day still revolves around the Middle East political unrest. According to the Italian Foreign Prime Minister Franco Frattini, “We believe that estimates of about 1,000 [deaths] are credible.” Unlike Egypt, which is an ally to the United States and has been for many years, Libya has always been an adversary, which means the United States has very little influence in the country or its politics. Libya also controls 2% of world oil output which is causing a sharp increase to oil prices.

In domestic news, stocks seem to be rebounding overall in early morning futures purchases and early morning trading seems to be on the rise as well. The safe haven appeal of precious metals is definitely still very clear.

Gold spot price is up $1.80 – Silver price is up 22 cents – Platinum spot price is up $7.10 – Palladium price is up $2.30

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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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