Our Daily
Market Reports

Closing Gold & Silver Market Report – 3/7/2011

At 4PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,433.20
  • Silver – $35.98
  • Platinum – $1,823.50
  • Palladium – $790.70

COMMENTARY:  Gold and silver are holding on to the gains from earlier, while the industrial precious metals, platinum and palladium, seem to be following the stock market as it falls.  “Crude oil is the catalyst,” MF Global’s Scott Meyers explains, as oil topped $105/barrel.  City Index’s Ben Potter says, “Traders [are] pulling money out of equities and going to cash or safe-haven assets like precious metals in response to the deteriorating situation in the Middle East and North Africa.”  The U.S. and the rest of NATO are looking into a “wide range” of potential responses to the ongoing crisis in Libya, including military options.

Gold spot price is up $3.60 on the day.  Silver is up $0.59.  Platinum is down $15.40.  Palladium is down $20.10.

 

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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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