Morning Gold & Silver Market Report –3/16/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,403.30
  • Silver price - $34.71
  • Platinum price - $1,727.00
  • Palladium price -$720.50

 

COMMENTARY: Gold spot price is up $9.50 – Silver price is up 52 cents – Platinum spot price is up $20.40 – Palladiums spot price is up $14.60

It would appear that the race to liquidity has slowed, so the downward pressure on gold and silver has diminished, allowing these metals to react more to world events than to margin calls. This could of course change, if a nuclear catastrophe would to occur in Japan. There were reports yesterday of radiation leaks reaching Tokyo, along with fires burning in reactors, but the information coming out of Japan is not consistent so it is difficult to know for sure the situation. Today, they are focusing on the number three reactor.

The fighting in Bahrain continues to escalate and draw more and more world attention. Saudi Arabia is contributing troops to assist the Bahrain government in their fight with the protestors.The US is a close ally of both Saudi Arabia and Bahrain, an uncomfortable position.

Portugal's debt rating took another hit from Moody’s as it was downgraded another two notches. It is currently three notches away from “junk bond” status.

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Disclaimer:

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.

US Dollar Prices are in USD

Precious Metal Prices
4/24/2014 3:08:31 PM EST

Metal Bid Ask Change
Gold $1,291.40 $1,293.40 $6.80
Silver $19.64 $19.74 $0.25
Platinum $1,402.80 $1,412.80 $8.90
Palladium $796.80 $801.80 $14.80
4/24/2014 3:08:31 PM EST

Click here for Historical Charts*All Charts are in USD


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