Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 9/22/2011

Gold Prices are Bouncing Off Morning Lows – The U.S. Stock market is falling along with global equity markets around the world. The DOW is down over 400 points, as concerns grow over the state of the global economy. Gold and precious metal prices have been dragged down along with stock prices, although the very news driving stock prices down might be viewed as positive for gold. In most cases, when gold drops in conjunction with a precipitous drop in the DOW, it is a liquidity event. Traders are simply selling what they can to cover margin calls. Gold prices have rebounded off lows, so traders will keep a sharp eye on afternoon action, as we head into the open of the Asian markets.

Is the world on the eve of the next financial crisis? Stay tuned.

At 12:14 (CT) the APMEX precious metals spot prices were:

  • Gold - $1,744.30 – Down $62.30.
  • Silver - $37.03 – Down $3.46.
  • Platinum - $1,713.40 – Down $77.80.
  • Palladium - $660.10 – Down $53.80.

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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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