Our Daily
Market Reports

Closing Gold & Silver Report – 3/11/2011

At 4:15 PM (CT) the APMEX precious metals prices were:

  • Gold price – $1420.60
  • Silver price – $35.96
  • Platinum price – $1779.50
  • Palladium price – $762.40

COMMENTARY: The natural disasters in Japan have crippled the country. The concern now lies in the recovery as the U.S. has been asked for military aid in helping crowd control as well as providing assistance in the cool down of an over-active nuclear reactor. President Obama called the Japanese Prime Minister Naoto Kan and offered “whatever assistance is needed.”

The news in the Middle East and Northern Africa continues to be a concern as there are continued counter-attacks by Muammar Gaddafi on an important oil port in the region. Insurgents in Libya are appealing to foreign powers to impose a no-fly zone to ease the onslaught. The news out of Saudi Arabia, the world’s largest oil producer, is appearing to be a global concern as there are planned protests over the weekend.

With all the global concerns, gold’s safe haven appeal is still sought.

Gold spot price is up $7.10 – Silver price is up 83 cents – Platinum spot price is up $12.40 – Palladium spot price is down $5.00

A few gold items to keep in mind over the weekend are the new Sunshine Mint Gold Bars or some American Gold Eagle Coins.

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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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