Morning Gold & Silver Market Report – 11/16/2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price -$1,357.00
- Silver price -$25.50
- Platinum price - $1,1660.80
- Palladium price - $663.00
COMMENTARY: An interesting article from today’s Financial Times, asks the question should the US sell some of the gold in its vaults? This question seems appropriate for Central banks around the globe. Which country doesn’t need to raise capital in these economic times? Why have Central banks been net buyers of gold and not sellers, since they obviously could use the money? Perhaps they understand that the historical role of gold ownership is safety, security and wealth protection.
Precious metal prices dropped overnight on fresh concerns that the Chinese will tighten down on their economy. Gold spot price is down $13.00 – Silver spot down 64 cents – Platinum spot price down $25.00 – Palladium price down $20.30