Our Daily
Market Reports

Morning Gold & Silver Market Report – 11/8/2010

At 8AM (CT) the APMEX precious metal spot prices were:

  • Gold price – $1,392.60
  • Silver price – $26.89
  • Platinum price - $1,759.50
  • Palladium price - $696.10

 

COMMENTARY: In late Friday night trading, gold spot price reached an all-time high of $1398.70. Precious metals have been under some selling pressure this morning, as the US Dollar is slightly higher. The US Dollar index remains technically and fundamentally weak in the near term, but if temporary rebounds were to occur, it would be bearish for precious metals. 

World Bank Chief calls for new gold standard. World Bank Chief, Robert Zoellick, floated out the proposal prior to this week’s G20 meeting in Seoul, that the leading economies should consider, “employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”

Gold spot price is down $2.40 from Friday’s Closing Commentary – Silver price is up 12 cents – Platinum spot price is down $12.30 – Palladium prices continue to rise up $7.60.

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

 
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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.

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