Our Daily
Market Reports

Closing Gold & Silver Market Report – 11/28/2011

WILL INFLATION PUSH GOLD OVER $2,000?

Precious metals prices have held steady this afternoon as the dollar grew weaker on the hope that the euro would be saved by a stronger fiscal union needed to avoid a debt crisis. Sharing his opinion of the recent moves in gold, Oliver Purshce, co-portfolio manager of the GMG Defensive Beta Fund, said, “Great retail U.S. news; you’ve got some positive momentum out of Europe; to a certain extent there is a little bit of short covering; and the fourth piece is China. … What will drive prices higher are fears of inflation … if you see the ECB print money, the Federal Reserve (ease), China change monetary policy -- that would all be supportive of $2,000 gold prices.”

President Barack Obama made a statement earlier today that the U.S. is ready to step in to help with the European debt crisis, stating that this is of “huge importance.” It would be interesting to see how the U.S., which is plagued with its own debt and inability to create an effective budget, might assist a continent in its attempts to remedy its own crises and budget problems.

At 3:57 p.m. (CST), the APMEX precious metals spot prices were:

  • Gold price - $1,714.80 – Up $28.30.
  • Silver price - $32.16 – Up $1.08.
  • Platinum price - $1,545.10 – Up $11.00.
  • Palladium price –$581.50 – Up $9.30.

« Return to Commentaries

World Market Trading Hours

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

 
Gold
Silver
Platinum
Palladium
CONMEX &
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