Closing Gold & Silver Market Report – 10/28/2010

At 5:00 PM(CT) the APMEX precious metals spot prices were:

  • Gold price - $1,345.50; +$21.90
  • Silver price - $24.05; +$0.62
  • Platinum price - $1,695.80; +$18.70
  • Palladium price - $632.00; +$10.90


COMMENTARY: The Gold markets responded positively all day due to the falling Dollar caused by increasing trader sentiment that the U.S. Federal Reserve Bank will substantially inject cash into the U.S. economy next week. Silver pressed to even higher gains on the day. Gold was up 1.6% on the day with Silver up 2.6%. (Click here for a Wall Street Journal article on the Dollar/Gold trade). The U.S. Treasury sold $29 billion in 7 year notes today, while yesterday, the Treasury sold $35 billion in 5 year notes, all of which--$64 billion--represented new debt. The Treasury reported that the two new issues of 5 year and 7 year debt were purchased 39% and 50%, respectively, by “indirect bidders” which includes foreign and international monetary authorities. (Click here for the Treasury settlement report on today’s debt sale). The World Gold Council announced today that Gold Prices could rise to $1,400 by the end of the year and published their “Gold Investment Digest Q3 2010” report today. (Click here to watch the World Gold Council Analyst present a brief report on the Gold Investment Digest).

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APMEX’s ‘News and Commentaries’ 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.

US Dollar Prices are in USD

Precious Metal Prices
4/24/2014 11:20:26 AM EST

Metal Bid Ask Change
Gold $1,288.10 $1,290.10 $3.50
Silver $19.59 $19.69 $0.19
Platinum $1,399.90 $1,409.90 $6.10
Palladium $796.60 $801.60 $14.60
4/24/2014 11:20:26 AM EST

Click here for Historical Charts*All Charts are in USD

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