Closing Gold & Silver Market Report – 11/09/2010
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,393.90
- Silver price - $26.94
- Platinum price - $1,763.10
- Palladium price - $694.50
COMMENTARY: It has been a wild ride in the precious metals market today. In the morning, all metal prices were sharply up, then the US Dollar rebounded slightly, so profit takers rushed in sending the price of precious metals down. Prices did rebound again toward the 4PM (CT) gold & silver market report, but Gold spot price did finish down $10.30 – Silver price down 54 cents – Platinum spot price down $8.00 – Palladium spot down $18.40.
Those investors considering the benefits of owning an ETF in lieu of the actual physical precious metal, might be interested with recent coverage and concerns about ETFs. Are they another form of financial engineering which we should approach with caution? We recommend a little due diligence before making any investment decision. Begin with reading the prospectus.
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APMEX’s ‘News and Commentaries’ 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.