Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 7/1/2011

Precious metals are trading lower today, partially due to the release of the June ISM factory index increase to 55.3%, which eased fears of a double-dip recessionGM posted a 10% jump in their June car sales.  But we are not out of the woods yet; the U.S. is still set to crash into the debt ceiling on August 2.  The Treasury Department reiterated that the debt ceiling would need to be raised or the U.S. would face “the catastrophic economic and market consequences of a default crisis.”

China’s factory information was released today, and it fell to the lowest level since February 2009.  They also released news that their inflation pace exceeded 20%, which is the highest since 2008.  China seems to be suffering from overwhelming debt as well, as they borrowed money to help fund projects to create jobs and generate steady income for the government.  It seems that it backfired on them as the earnings have been just a fraction of what was predicted, but the issue has been compounded with the fact that the debts are now due, yet they do not have the money.

On a side note, it seems that the trial against former IMF chief Dominique Strauss-Kahn may not go the way everyone thought.  New information has cast a different light on the trial, as the credibility of his accuser is in question.  South Africa, one of the world’s largest gold producers, had less gold output for the first quarter, falling 9.3% compared to last year’s fourth quarter. 

At 12:00 pm (CT) the APMEX precious metals spot prices were:

  • Gold - $1,486.50 - Down $17.30 on the day.
  • Silver - $33.92 - Down $0.88.
  • Platinum - $1,716.90 - Down $9.20.
  • Palladium - $758.50 - Down $4.20.

« 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
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-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.

AURIC