Closing Gold & Silver Market Report – 2/25/2011
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1.411.00
- Silver price - $33.42
- Platinum price - $1,808.90
- Palladium price - $792.90
COMMENTARY: Stagflation: a condition of slow economic growth and relatively high unemployment accompanied by a rise in prices, or inflation. Is it possible that one of the Federal Reserve’s worst enemies is beginning to rear its ugly head? Austerity measures and rising oil prices are beginning to tell us that stagflation is entirely possible. T.Boone Pickens stated today, that he expects oil prices to rise as high as $120 per barrel. It is hard to forecast an economic recovery with $100 a barrel oil.
Gold spot price held above $1400 for the week and climbed back up today to finish only $5.80 down. Silver prices rebounded even more sharply from morning lows, finishing up 17 cents. Platinum price climbed back over $1800 finishing up $21.10. Palladium is once again nearing $800. as it was up $13.10
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