Mid-Day Gold & Silver Report – 3/22/2011
At 12 PM (CT) the APMEX precious metals prices were:
- Gold price - $1426.20
- Silver price - $36.34
- Platinum price - $1740.00
- Palladium price - $738.00
COMMENTARY: The Japanese news continues to swirl over concerns over nuclear fallout. Radioactive particles have found their way to the sea, up to as far away as Iceland. There is no concern over human health at this time. Tokyo Electric Power is working to stabilize the reactors as more water was needed to cool down the nuclear reactor, in the worst nuclear crisis in the last twenty five years.
The Libyan news seems to be improving from a United States perspective as the no-fly zone continues to shape up with other allied countries taking more responsibility. There seems to be some concern coming out of Asia in response to the implementation, with China and India both voicing concerns over foreign involvement in what they feel is an internal affair.
The global concerns continue to be the driving force behind the safe haven appeal of gold. According to Daniel Briesemann, a Commerzbank analyst, "This volatility shows market participants are still very uncertain about what is going on and where it is leading, so at least in theory, it should be supportive for gold."
Gold spot price is down $1.20 – Silver price is up 27 cents – Platinum spot price is down $5.90 – Palladium price is down $5.30