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Morning Gold & Silver Market Report – 12/2/2010

  • Gold price - $1,386.50
  • Silver price – $28.37
  • Platinum price - $1,703.80
  • Palladium price - $740.00

 

COMMENTARY: The Shanghai Gold Exchange revealed that Chinese gold imports increased almost fivefold, when comparing the first ten months of this year to the last year. Imports gained 209 metric tons of gold in the first ten months, compared to 45 tons for all of 2009. Chinese officials commented that the rising concerns about inflation, increase the appeal of gold as a safe haven. Precious metal prices are mixed this morning as gold and silver are slightly down, while Platinum and Palladium continue to surge.

Gold spot price was off $1.80 – Silver price off 26 cents – Platinum price is up -$21.50 – Palladium spot price is up $9.70

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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.

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