Closing Gold & Silver Market Report – 3/22/2011
At 4PM (CT) the APMEX precious metals spot prices were:
- Gold – $1,429.10
- Silver – $36.44
- Platinum – $1,741.00
- Palladium – $739.50
COMMENTARY: Gold remained relatively flat today, “partly due to the anxiety of some financial players regarding higher interest rates in Europe, tightening in China, Asia, and other parts of the world,” says James Dailey of the TEAM Asset Strategy Fund. Supporting the safe-haven demand of gold are the usual suspects of late – air strikes on Libya, political unrest in other Arab countries, and the nuclear crisis in Japan (which is possibly worse than originally feared). In lighter news, Venezuelan president Hugo Chavez also warns us that capitalism is responsible for the end of life on Mars, and is also the reason for many of the world’s problems. Silver rose over 1% today to a 31-year high, and some investors believe that it may be ready to “breakout.” The U.S. dollar index is hovering near 4-1/2 month lows against the euro.
Gold spot price is up $1.70 on the day. Silver is up $0.37. Platinum is down $4.90. Palladium is down $3.90.