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Market Reports

Closing Gold & Silver Market Report – 3/25/2011

At 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,430.90
  • Silver price - $37.42
  • Platinum price -$1,750.80
  • Palladium price -$752.00

 

COMMENTARY: Precious metal prices drifted lower in afternoon trading, as the US stock market continued to go up. The US bumped up their 2010 4th quarter growth numbers, while at the same time stating they see growth slowing in early 2011. Charles Evans, President of the Fed’s regional bank in Chicago sees an improving economy, which could mean an end to further stimulus once QE2 has run its course. The US dollar rebounded, which along with profit taking, contributed to a drop in gold prices.

Despite today’s rebounding US dollar, Warren Buffet is not a fan of long-term bond tied to the dollar. He flatly states that investors should avoid long-term bets in US dollars because their purchasing power will decline.

Higher gasoline prices and the Japanese earthquake are the likely culprits in driving down consumer confidence in March. Consumer confidence fell to its lowest level since November 2009. It is not just fuel costs, but all the related costs to fuel and rising commodity prices.Food would be the first example.

Gold spot price was off $5.00 – Silver price was down 4 cents – Platinum price was off $11.20 – Palladium price was down $1.30

Silver has been extremely popular and on the rise the past six months. If you are one of the many who love Silver half dollars…we have some on sale! For those investors who want their products sealed and direct from the mint, we have a good selection of Mint Direct products.

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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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