Our Daily
Market Reports

Mid-Day Gold & Silver Report – 3/28/2011

At 12:06 PM (CT) the APMEX precious metals prices were:

  • Gold price - $1421.50
  • Silver price - $37.06
  • Platinum price - $1751.30
  • Palladium price - $747.60

COMMENTARY: The global news still continues to dominate market prices. The news out of Japan focuses on the radioactive fallout associated with the leaking nuclear reactor. The concern is more in the radioactive particles seeping through and contaminating the water in the ground than reaching the ocean. However, that does not mean the ocean will not be affected. Greenpeace has also weighed in on contamination fears.

Libya continues to be a source of concern, although rebel forces continue to advance towards Tripoli with hopes to oust Muammar Gaddafi. There is a 35-nation meeting set for tomorrow specifically regarding the crisis in Libya, with Italy and France in agreement that Gaddafi needs to be exiled. Russia is still critical of western involvement.

George Gero, senior VP at RBC Capital Markets says. “ I see that silver has been outperforming gold and I think silver is outperforming gold because it is a bridge between investment demand and industrial demand.” We must recall that portfolio managers are under some pressure to realize profits this week as the first quarter comes to a close on Thursday.

Gold spot price is down $5.70 – Silver price is down 6 cents – Platinum spot price is up $3.70 – Palladium price is down $3.80

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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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