At 12PM (CT) the APMEX precious metals spot prices were:
Gold – $1,425.50 | +$2.70
Silver – $35.99 | -$0.02
Platinum – $1,753.00 | -$29.70
Palladium – $750.20 | -$16.30
COMMENTARY: Gold and silver have remained relatively flat today, while platinum and palladium are down on concerns over the automobile industry. The safe-haven demand for gold and silver is still there, Phil Streible of Lind-Waldock reports (video). However, Japan is selling gold and converting it to cash in the wake of the recent disaster. Continuing the recent trend of push-and-pull on gold prices, we see the sell-off in Japan pressuring prices downward, whereas the safe-haven demand pressures it upward. Stocks are down (upward pressure on gold), but so is oil, which may ease inflation concerns (downward pressure on gold).
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.
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