Our Daily
Market Reports

Closing Gold & Silver Market Report –3/10/2011

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

  • Gold price - $1,412.30
  • Silver price - $35.34
  • Platinum price - $1,766.20
  • Palladium price - $770.00

 

COMMENTARY: Today was one of those days that the strong pull of the equity markets sinking, dragged precious metal prices down as well.  Generally speaking, news like Gaddafi stepping up attacks would cause movement from riskier investments like stocks to safe havens like gold, but not today. They both went down. Other news such as Moody's cutting Spain’s debt rating, which further fanned Euro debt fears would also drive precious metal prices up. It just goes to show that you cannot ever use words like always or never when it comes to market predictions. Tomorrow could be an interesting trading day for precious metals, as this news gets more thoroughly dissected and digested.

Gold spot price was off $18.30 – Silver price was down 78 cents – Platinum spot price was off $36.80 – Palladium price was down $12.70

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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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