Mid-Day Gold & Silver Market Report – 3/4/2011
At 12:25 PM (CT) the APMEX precious metals spot prices were:
- Gold - $1,431.00
- Silver - $35.39
- Platinum - $1,839.50
- Palladium - $811.00
COMMENTARY: Gold is adding to its weekly gains this afternoon as silver is trading at a 31-year high. There seemed to be some optimism earlier over the news of 192,000 jobs being added in February, but surveys say the number was lower than expected. Investors are worried about reports of continued violence in Libya, this time in the country’s capitol, Tripoli.
Analysts from Barclays Capital say that “the metals’ safe-haven appeal is set to continue to support prices in the near term.” They added, “Silver dealers have indicated that smaller investors see silver as a more affordable alternative to gold as they look to alternative assets for wealth preservation, worried about the outlook for inflation and currency value.”
Gold spot price is up $13.60 on the day. Silver is up $1.00. Platinum is up $5.50. Palladium is down $4.80.