Mid-Day Gold & Silver Market Report – 4/21/2011
SILVER PRICES CONTINUE TO RACE UPWARDS – Gold has maintained its overnight gains, while silver just keeps climbing higher.
In Libya, government troops have escalated their attacks on the rebel-held city of Misrata. Western forces have threatened to step up military action should the government move in this direction, but they seem unfazed by these threats. Western forces have already participated longer in this conflict that what was originally intended. Now they are trying to contemplate their way out. In Libya, both the rebel and government forces appear ready for a long conflict.
On the home front, more bad news for housing. Home prices fell 5.7% in February 2011 as compared to February 2010, according to the Federal Housing Finance Agency.“The increasing share of distressed sales will continue to exert downward pressure on home prices because they sell at a discount,” Michelle Meyer, a senior economist at Bank of America Merrill Lynch Global Research in New York, said yesterday in an interview on Bloomberg Television’s “Bottom Line” with Mark Crumpton.
At 12 PM (CT) the APMEX precious metal prices were:
- Gold price - $1,505.60 (up $5.70)
- Silver price - $46.32 (up $1.79)
- Platinum price - $1,818.00 (up $16.20)
- Palladium price - $771.00 (up $11.10)