by
Peter LaTona
November 19, 2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price -$1,346.90
- Silver price - $26.66
- Platinum price - $1,650.00
- Palladium price - $698.60
COMMENTARY: Precious metal prices were on the rise in overnight trading, as the US Dollar continued to fall, but this trend reversed as further measures to tighten up on inflation were introduced in China. China takes offense to any dialog indicating they are intentionally keeping their currency undervalued, and have urged the US to not interfere with their internal affairs.
As the price of precious metals continue to fluctuate, it is good to remind ourselves that precious metals have a necessary and fundamental role in your investment portfolio; they are an insurance policy to mitigate risk and to provide safety if everything else turns south. Why else do you think world central banks are currently net buyers of gold at a time they need to raise capital? Gold is near all-time highs, so why aren’t they selling? The reason is that they are buying an insurance policy to protect their wealth, in this very uncertain economic environment.
DISCLAIMER:
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.