Our Daily
Market Reports

Closing Gold & Silver Report – 3/3/2011

At 4:00 PM (CT) the APMEX precious metals prices are:

  • Gold price - $1,417.00
  • Silver price - $34.29
  • Platinum price - $1,828.90
  • Palladium price - $814.60

COMMENTARY: Precious metal prices were down today, as the stock market climbed nearly 200 points. Jobs data and a renewed sense of optimism were the likely causes, but we cannot discount the reports of Venezuela brokering peace talks with Libya and the European Central Bank’s warning they could soon raise interest rates.  

News of the current SEC proposal to stop the trafficking of “conflict gold” took the market somewhat by surprise. Experts fear that the added rules, regulations, greater costs and auditing to be put in place to regulate the mining of gold in Tanzania could lead to an unintended boycott of African gold mining. 

Gold spot price is down $21.90 – Silver price is down 62 cents – Platinum spot price is down $31.40– Palladium price is down $7.80

The South African 1oz Gold Krugerrand has been a staple for gold investors for decades.

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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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