by
Michael Haynes
October 29, 2010
At 5 PM(CT) the APMEX precious metals spot prices were:
- Gold price - $1,360.80; +$17.30
- Silver price - $24.77; +$0.86
- Platinum price - $1,708.80; +$17.80
- Palladium price - $649.50; +$18.10
COMMENTARY: Gold and Silver markets finished the day higher by wide margins from the previous day close completing a two day run with significant gains. The Dollar was weaker in the afternoon following the 3rd Quarter GDP (Gross Domestic Product) Report as the expectations of traders relative to the anticipated actions of the U.S. Federal Reserve Bank to increase money supply were bolstered. The Fed is meeting early next week to determine any action to be taken to respond to the weak economy and the 9%+ unemployment rate.(Click here for a MarketWatch.com article on the Dollar). In the Barron’s Art of Successful Investing conference, a number of top investors from around the world were in attendance. Marc Faber, in a brief interview, declared that he was “bullish” on Gold and Silver. (Click here to see the brief Faber interview at the Barron’s conference).
Take advantage of the current market conditions and add Gold Krugerrands or move to Silver with 10 ounce Silver bars.
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