Our Daily
Market Reports

Closing Gold & Silver Market Report – 2/28/2011

AT 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,412.10
  • Silver price - $33.95
  • Platinum price - $1,810.90
  • Palladium price - $800.30

 

COMMENTARY: Precious metal prices all ended in positive territory today as investors looked for a hedge against political instability in the Middle East. With volatile situations in Libya, Bahrain, Oman and nervousness elsewhere in the region, gold was the answer to investors’ “flight to quality.”  

Although Gold prices are solidly above $1,400.00 per ounce, they are still 40% UNDER the inflation-adjusted high of 1980! But in February 2011, Gold did produce its best monthly increase since April of 2010. Historically, Gold prices rose 30% in 2010 for a 10th annual gain overall.

Random year South African Gold Krugerrands, with their relatively modest premiums, are an attractive candidate for many investors.

All of the precious metals ended the day somewhat higher. 

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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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