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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