Closing Gold & Silver Market Report – 11/17/2010

At 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,336.80
  • Silver price - $25.68
  • Platinum price - $1,639.80
  • Palladium price - $664.30


COMMENTARY: European leaders are crafting a plan to possibly bailout Ireland. It has been reported that this aid package could total as much as $135 Billion dollars. In 2009, Ireland’s total Gross Domestic Product (GDP) was approximately $227.8 Billion, so this bailout would equal 59.26% of Ireland’s total GDP. A bailout of Ireland would also place considerable pressure on Portugal, as that nation needs to issue bonds during the first quarter of 2011. The current EU debt crisis, which already claimed the Greek economy six months ago, is now threatening Ireland and Portugal as well. These events are driving the Euro down, which make the US Dollar look stronger, although it has not actually done anything. The higher US Dollar will depress precious metals prices, but for how long? The same economic uncertainties that drove people to the safety of gold are still in play. We advice keeping a close eye on Europe.

The markets were not active today. Gold spot price was down $3.10, while Silver spot price was up 39 cents. Platinum price was down $5.90, while Palladium price was up $16.40.

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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.

US Dollar Prices are in USD

Precious Metal Prices
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

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