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Closing Gold & Silver Market Report – 7/20/2011

Despite gold trading lower this morning, it has rallied to stay above the $1,600 mark.  Precious metals took a little dip today on news of President Obama pushing for a quicker deal on the debt ceiling.  However, with the seriousness of the situation combined with a struggling economy and rumors of QE3, people stayed close to the safe-haven investments.  U.S. stocks ended slightly lower this evening, with the Dow down 16 points. 

Although there has been a lot of talk about gold, especially since gold has broken records as of late, silver is not to be forgotten as experts are telling it.  The ratio of gold-to-silver has been watched by many to get an idea of how well silver is trading at the time, and experts are saying that although it has some catching up to do, it has great potential.

Is the U.S. now making plans for possible default?

At 4:00 PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,602.30– Up $0.20 on the day.
  • Silver – $40.19 – Down $0.10.
  • Platinum – $1,778.60 – Up $2.30.
  • Palladium - $798.00 – Down $2.40.

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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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