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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)

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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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