Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 9/26/2011

Volatility is the Word for the Day! – Gold and silver prices have been moving in wide swings all morning, while continuing to trend down. Both gold and silver have traded in positive territory, but have since given up gains. Price movements have been dramatic. As dramatic as gold prices have been of late, an article by Jan Harvey in Reuter’s today points out that gold has been here before and rebounded. The author draws an analogy to the Lehman fall in 2008. Gold prices collapsed during the fall, but soon rebounded, unlike the equity markets.

Although many hedge funds have been forced to sell positions in high performing assets, such as gold, not all hedge funds are selling their gold. Many hedge funds still view gold as one of the best bets they can make in an uncertain and unstable global economy. Despite the sell-off, gold is up 7 percent since July and 14% for the year. According to Coast Sullenger, Managing Director at Gaia Capital, “Gold equities is one of the only sectors that has been performing," he told Reuters. "If the sell-off continues, it will probably create more of a buying opportunity... Gold shares are trading at a very, very low valuation, vis-a-vis their own history."We're of the opinion that gold shares are an asset class you should be overweight."

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

· Gold price – $1,600.00 - down $39.80

· Silver price –$30.07 – down 5 cents

· Platinum price – $1,551.90 – down $64.30

· Palladium price - $628.80 – down $14.70

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
COMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

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.

Back To Top

Items In Cart


There are no items in the cart.

PLATINUM