Closing Gold & Silver Market Report - 9/26/2011
Very Odd Day in the Marketplace – The U.S. Stock Market began the day off strong, then faded, then recovered, then faded and then boomed 200 points at the close, to finish above 11,000 for the day. Bond prices fell as stocks rose, all based on the hope that European leaders will commit some cash to bailout the European countries, who need to be bailed out. There has been no plan announced, but there is a belief that a “Tarp –like” proposal can be put into effect to fight the region’s sovereign debt crisis.
Gold and silver prices were all over the board in today’s trading as well. Gold had been as low as $1532 and silver off as much as 16%. Gold has moved up well over $1600 and silver prices are now positive for the day.
At 4PM (CT) the APMEX precious metals prices were:
- Gold price - $1,631.00 – down $9.80
- Silver price - $30.80 – up 67 cents
- Platinum price - $1,566.20 – down $50.00
- Palladium price - $635.00 – down $9.50