GOLD AND SILVER PRICES MOVE HIGHER – Friday’s job loss reports and the fear of a possible interest rate hike in China gave investors the jitters and that was good news overall for Precious Metals. Gold, Silver and Palladium all were up and only Platinum was lower. As Wall Street continued to fret over the economy, shares on most indices dropped – the fourth straight trading session to do so. None of the major indices were spared. The Dow Jones Industrial Average fell more than 66 points and the Standard & Poor’s 500 fell more than 14 points. The S&P 500, a benchmark for ‘blue chip’ stocks, is now below the 1,300 mark.
Continued unrest in the Middle East, a growing sovereign debt crisis in the EU and economic problems at home all worried US investors. That is a major reason why Gold and Silver prices moved upward today, as investors sought to place their funds into the safe-haven that is Gold and Silver.
At 4 PM (CT) the APMEX precious metal prices were:
- Gold price - $1,545.90 (up $3.00)
- Silver price - $36.88 (up 58 cents)
- Platinum price - $1,814.80 (down $9.90)
- Palladium price - $791.50 ( up $4.10)