Morning Gold & Silver Market Report – 11/09/2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,415.80
- Silver price - $28.23
- Platinum price - $1,789.20
- Palladium - $729.00
COMMENTARY: In overnight trading, precious metal prices continued to strengthen, with Gold spot price hitting another record high at $1422.10. Metal prices began a sharp incline yesterday, despite a slight increase in the US Dollar. Overnight, the US Dollar weakened, which should spur further gains today. Displeasure from the other 19 member of the G20 Economic Summit, continues to surface over last week’s Fed QE2 announcement. China being the latest to check in with their opinion. There is more and more discussion about negative unintended consequences, than potential positive results.
Gold spot price is up $5.60 since yesterday’s Closing Commentary – Silver price is up 43 cents – Platinum spot price is up $12.20 – Palladium price is up $19