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.