Our Daily
Market Reports

Morning Gold & Silver Market Report – 3/24/2011

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

  • Gold – $1,441.10
  • Silver – $37.81
  • Platinum – $1,762.00
  • Palladium – $757.00

COMMENTARY:  Gold is fairly flat this morning, while silver continues its climb.  U.S. stock futures are holding on to robust gains amid the release of data showing that jobless claims fell, as did orders for U.S. durable goods.  The dollar index continued to weaken, and the euro surprisingly strengthened.  Crude oil futures have topped $106 a barrel, which has many fearing further inflation. 

The euro zone debt crisis intensified yesterday, as Portugal’s prime minister resigned after parliament rejected his latest austerity measures.  EU leaders meet today and tomorrow, and there is considerable pressure on Lisbon to seek a bailout package.  Prime Minister Jose Socrates plans on attending the summit in a caretaking capacity, and is strongly against taking a bailout, which many believe is inevitable.  Germany is also causing headaches for the European Union, but for different reasons.  Euro zone debt issues, the conflict in the Middle East and North Africa, fears of inflation, and the ongoing nuclear crisis in Japan are all supporting the safe-haven appeal of gold.

Gold spot price is up $2.10 on the day.  Silver is up $0.55.  Platinum is up $1.00.  Palladium is up $6.70.

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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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