Morning Gold & Silver Market Report – 3/14/2011
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,427.50
- Silver price - $36.02
- Platinum price - $1,767.60
- Palladium price - $751.90
COMMENTARY: As predicted in Friday’s Closing Commentary, the eyes of the world continue to be on Japan and the news only gets worse. Death toll estimates are now above 10,000 and climbing. A nuclear reactor already in peril was rocked by a second hydrogen explosion.The Japanese stock market fell over 6%. Most world markets are hovering lower this morning, waiting further updates out of Japan.
Gold and silver are up slightly this morning, buoyed not only be Japanese events, but the fighting going on in Libya. As one might expect, platinum and palladium prices are falling due to their heavy use for the automobile industry. It is still to be seen how these events will ultimately affect the Japanese automobile companies manufactoring in Japan.
Gold spot price is up $4.70 – Silver price is up 2 cents – Platinum spot price is down $15.10 – Palladium price is down $14.70