Closing Gold & Silver Market Report – 4/29/2011

4/29/2011 4:27:00 PM By: Peter LaTona

GOLD CLOSES AT A RECORD PRICE – Gold prices continue to be a story of a weaker US dollar. Even the Central Banks are getting out of dollars to buy gold.“The dollar will continue to lose ground for the foreseeable future, so it only makes sense to be invested in precious metals,” said Matthew Zeman, a strategist at Kingsview Financial in Chicago.

Oil prices were also on the move today and oil posted its eighth straight monthly gain. Yesterday's three-year lows in the dollar index following the mid-week Fed statement strongly suggests a market dynamic that is not yet ready to reverse," Jim Ritterbusch, president at Ritterbusch & Associates in Galena, Illinois, said in a note."Consequently, oil will continue to be valued as an asset class or inflation hedge along with other commodities such as the gold market." Oil prices closed today at nearly $114 a barrel.

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

  • Gold price -$1,467.30 ($34.60)
  • Silver price - $48.04 (up 45 cents)
  • Platinum price - $1,879.00 (up $38.10)
  • Palladium price - $796.60 (up $19.40)

« Return to Commentaries

Disclaimer:

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.

US Dollar Prices are in USD

Precious Metal Prices
6/19/2013 12:07:26 AM CST

Metal Bid Ask Change
Gold $1,365.40 $1,367.40 ($1.50)
Silver $21.57 $21.67 ($0.13)
Platinum $1,425.40 $1,435.40 ($6.70)
Palladium $702.90 $707.90 ($0.50)
Last updated : 6/19/2013 12:07:26 AM CST

Click here for Historical Charts*All Charts are in USD

Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More

APMEX Reviews

Just placed my order for the 1st 2013 America The Beautiful coin. I especially like this one as my sister and I went on vacation there and stayed at the White Mountain Inn.

Pamela W. | May, 2013 View All

As seen on...

Module Name