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Market Reports

Closing Gold & Silver Market Report – 4/15/2011

GOLD BREAKS ANOTHER RECORD TO CLOSE NEAR $1,500. Gold closed up 0.8% on the week with silver also closing at its latest 31-year record. Although the turbulent geopolitical environment still exists in places like Libya, economic forces have been driving precious metals prices this week. Consumer prices have risen 2.7% in the past 12 months and inflationary fears are becoming more real. Miguel Perez-Santalla, vice president of sales at Heraeus Precious Metals Management said, “People are buying gold and silver as a protection against inflation. If the Fed doesn't start raising rates, inflation is really going to hit hard and cripple the economy.”

Inflation in the U.S. is not the only concern. European debt crises is continuing to encourage strong support for gold and silver. In China, one of the world’s largest importers of commodities, the inflation rate jumped to a 32-month high in March; prices in China rose over 5.4% over a year ago.

Create your own hedge against inflation with our wide variety of gold products such as the Gold American Eagle.

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

  • Gold – $1,488.10 (up $14.70 on the day)
  • Silver – $43.12 (up $1.39)
  • Platinum – $1,794.00 (down $.60)
  • Palladium - $771.00 (down $4.30)

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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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