Our Daily
Market Reports

Closing Gold & Silver Market Report – 10/29/10

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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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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