Our Daily
Market Reports

Closing Gold & Silver Market Report – 5/18/2011

FULL-DAY RALLY HOLDS UP PRICES – It sounds eerily familiar to last month’s story, but gold and silver both saw modest gains today.  Silver led the rally gaining more than $1.50, while gold gained a respectable $16.40.  Inflation fears both here and abroad are bringing investors back to precious metals for their safe haven appeal.  Adding to the rally today was a weaker dollar.  Recently, the dollar has been gaining strength against the basket of six currencies its compared against, luring investors away from gold.

Inflation readings out of the U.K. came in much higher Tuesday than expected, at 4.5%.  Some experts have considered today's rally a delayed reaction to those readings.  On this side of the globe, Lowe’s chief executive, Robert A. Niblock, said, “Rising gas and energy prices are cited by homeowners as the top factor affecting future spending plans, followed by the state of the overall economy and inflation in general.”  Minutes from the April meeting of the Federal reserve were released Wednesday and they show that Fed officials were becoming more concerned about inflation last month and most prefer to raise rock bottom interest rates as their main tool for managing the economy. 

At 4:15 PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,498.10 (up $16.60)
  • Silver price - $35.13 (up $1.55)
  • Platinum price - $1,772.70 (up $10.70)
  • Palladium price - $737.50 (up $19.30)

Silver American Eagles, add them to your portfolio.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM