Mid-Day Gold & Silver Market Report – 11/3/2010
At 12PM (CT) the APMEX precious metal spot prices were:
- Gold price - $1,340.40
- Silver price - $24.43
- Platinum price - $1,697.00
- Palladium price - $644.30
COMMENTARY: Equity and precious metal prices have slipped in morning trading, on speculation as to the details of QE2. It is generally expected that prices will dip if the monetary easing is less than expected and rise if more. This morning’s dips are largely attributed to profit taking ahead of the news. Gold spot price is down $17.50 – silver spot price is down $0.44 – Platinum spot price is down $21.10 – Palladium is down $3.20.
The actual announcement from the Federal reserve is still due at 1:15 (CT).
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.