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Market Reports

Mid-Day Gold & Silver Market Report – 3/10/2011

At 12PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,409.40 | -$21.20
  • Silver – $35.09 | -$1.03
  • Platinum – $1,764.00 | -$39.00
  • Palladium – $767.60 | -$15.00

Precious metals prices are continuing to drop, likely pulled down by profit-taking and selling-off to cover losses in other commodity markets and equity.  “…[T]here is margin selling in gold to cover the weakness in the stock market,” says Tom Pawlicki of MF Global.  The news of the day would typically have precious metals prices trending upward, as tensions in the Middle East and North Africa continue to be worrisome to investors.  Also, stocks took a hit after China posted its largest trade deficit in seven years for the month of February.  A trade surplus was originally expected.  Economists believe the drop is only temporary, but there is concern out of the world’s fastest-growing economy.

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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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