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.
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.