Morning Gold & Silver Report – 11/3/2010
At 8AM (CT) the APMEX precious metal spot prices were:
- Gold price - $1,357.70
- Silver price - $24.91
- Platinum price - $1,716.00
- Palladium price - $646.00
COMMENTARY: The US Election results came in as most pundits predicted. There has not been significant movement in either the equity or precious metals markets, as these results were already factored in. However, there is an upward pressure as we await the Federal Reserve QE2 announcement at 1:15 PM (CT) today. There is little doubt that QE2 is currently part of the price equation, but will the actual announcement be greater or lesser than market expectations?
In other news, a World Gold Council official told a Shanghai conference, that the Chinese gold market could double in the next ten years on retail investment and jewelry demand.
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.