by
Michael Haynes
October 29, 2010
At NOON (CT) the APMEX precious metals spot prices were:
- Gold price - $1,358.60; +$15.10
- Silver price - $24.49; +$0.59
- Platinum price - $1,707.30; +$16.30
- Palladium price - $644.30; +$12.80
COMMENTARY: The Gold and Silver markets advanced during morning trading to show increases of 1.1% and 2.4%, respectively. Platinum and Palladium also advanced significantly at 1.0% and 2.0% from the prior closing. The Dollar lost ground in the morning trading as the U.S. GDP (Gross Domestic Product) report on the 3rd Quarter and other reports on consumer confidence convinced traders to adjust their positions for the weekend in advance of the U.S. Federal Reserve meeting early next week. (Click here for MarketWatch.com article on Dollar trading and the Fed). Many investors are looking to make their purchases into the Gold this week and over the weekend prior to the opening bell on Monday in order to lock in current market prices.
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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.