Our Daily
Market Reports

Morning Gold & Silver Market Report – 2/24/2011

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

  • Gold price - $1,414.90
  • Silver price - $33.27
  • Platinum price - $1,778.20
  • Palladium price - $771.50

 

COMMENTARY: Gold spot price is up 40 cents – Silver price is down 11 cents – Platinum spot price is up $1.50 – Palladium price is down $5.00

As you can see, the precious metals market is hovering this morning in a tight trading range. Oil prices continue to move upward crossing the $100 benchmark. This recent spike is more attributed to events in Libya, than those that previously took place in Egypt.

First time jobless claims dropped to 391,000 for the week ending 2/19/2011. This was less than the previous week of 413,000. This positive report is being  discounted by the market due to the durable goods report. Excluding transportation, this report unexpectedly dropped 3.6%, which would indicate one of our leading indicators of economic recovery, manufacturing, is slowing down.

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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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