Mid-Day Gold & Silver Market Report – 11/2/2010
At NOON (CT) the APMEX precious metals spot prices were:
Gold price - $1,354.00 - $1.50
Silver price - $24.79 - $0.05
Platinum price - $1,716.00 - $2.00
Palladium price - $647.00 - $6.80
COMMENTARY – Gold prices softened slightly, after a brief morning rally. The morning price rally reflected the weakness of the US Dollar index and the strength of precious metals as a hedge against currency worries. As precious metal prices moved upward, profit-taking ensued and, consequently, prices are now a bit lower. Any announcement about QE2, coming out of tomorrow’s Fed Open Market Committee meeting conclusion, may further stimulate precious metal market prices.
APMEX’s ‘News and Commentaries’ 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.