Mid – Day Gold & Silver Market Report – 11/16/2010
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,337.20
- Silver price - $25.32
- Platinum price - $1,644.40
- Palladium price - $644.60
COMMENTARY: Stocks and precious metal prices were sharply down this morning as details began to surface on the Irish rescue plan. The current panic is driven by the revelation that the cost of Ireland’s bank bailout could be as much as 100 billion Euros. There is growing concern that this debt crisis will continue to spread with Portugal standing next in line. Markets might be giving back profits gained during the QE2 announcement as Europe’s troubles could interfere with the effectiveness of the Feds easing efforts.
Gold spot price is down $32.80 – Silver price is down 83 cents – Platinum spot price is down $41.40 – Palladium price is down $38.70
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.