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Market Reports

Morning Gold & Silver Market Report – 3/31/2011

GOLD ON LONGEST WINNING STREAK SINCE 1979

Gold has firmly positioned itself as an alternative investment with an important role in portfolio diversification strategies. Gold’s negative correlation to other asset classes makes it an essential risk management tool. In other words, a safe haven. Gold’s rise is often directly attributed to the increased risks of a global economy and their unintended and unanticipated consequences. These same factors that have driven the increase in gold prices would appear to still be in place. 

Public faith and trust in “corporate business leaders” may be shaken to new  lows as a report came out this morning that a possible successor to Warren Buffet quit under circumstances that are under investigation. David Sokol, considered to be a potential candidate to replace Warren Buffet at Berkshire Hathaway Inc, resigned after it came to light that he purchased millions of dollars of Lubrizol Corp shortly before urging Mr. Buffet to buy the company. Both Mr. Buffet and Mr. Sokol have stated that they believe these trades to be lawful. 

Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 388,000. A poll conducted by Reuters with Economists had projected this number at 380,000, but still, this is three weeks in a row below 4000.

On the European front, Portugal appears one step closer to requiring a bail out, as their 2010 debt estimate came in higher that projected. The government target was 7.3%, but the current estimate is 8.6%

Precious metal prices are moving up in early morning trading. At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,436.70 (up $11.90)
  • Silver price - $37.89 (up 31 cents)
  • Platinum price - $1,777.90 (up $4.50)
  • Palladium price - (up $10.00)

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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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