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Market Reports

Closing Gold & Silver Market Reports – 3/14/2011

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

  • Gold price - $1,428.50
  • Silver price - $35.99
  • Platinum price - $1,757.00
  • Palladium price - $747.90  

 

COMMENTARY: With their strong connection to the automobile industry, it is no surprise that platinum and palladium continued their downward slide today. Japan is noted for their automobile manufacturing. Gold began the day strong and then dipped due to profit taking likely coming from Japan. Japanese investors are often long on gold, but in light of this current tragedy, they have no option but to sell gold to raise cash. US Investors will feel the effect of Friday’s earthquake on many fronts. It is being reported that US investors put over $1 Billion dollars in Japanese exchange-traded funds last month.

The Middle Eastern crisis has taken a back seat to the events in Japan, but it has not settled down. Saudi Arabia is sending troops into Bahrain to help put down protests. Some Muslim factions in Bahrain are calling this an act of war. In Libya, Qaddafi continues to carry out air strikes in Ajdabiya and continues to march east. The US and its allies are struggling to come up with acceptable measures to stop him.

Gold spot price is up $7.00 – Silver price is down 2 cents – Platinum price is down $24.10 – Palladium price is down $19.00

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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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