Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 2/23/2011

At 12:30PM (CT) the APMEX precious metals spot prices were:

  • Gold - $1,413.40
  • Silver - $33.52
  • Platinum - $1,779.50
  • Palladium - $781.00

COMMENTARY:  Stocks have started to topple after rebounding early this morning thanks to poor industrial results.  There are fears that the Dow could fall by more than 100 points in consecutive days for the first time since June.  This, in conjunction with the ongoing crisis in the Middle East, is keeping gold and silver in the black.  Strategists at Commerzbank say that “The price of gold should remain well supported as long as there is no sign of tension easing in the Middle East.”  Also supporting the gold price is that the dollar has weakened against the Euro.  The aforementioned poor industrial results are likely the reason that platinum and palladium are trading lower today.

Gold spot price is up $11.80 on the day.  Silver spot price is up 58 cents.  Platinum spot price is off $6.80.  Palladium spot price is down $26.70.

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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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