Our Daily
Market Reports

Mid –Day Gold & Silver Market Report – 12/2/2010

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,389.20
  • Silver price - $28.68
  • Platinum price - $1,714.60
  • Palladium price - $766.50

 

COMMENTARY: Many were hopeful that the European Central Bank would take a more aggressive approach to alleviate European debt concerns. Those hoping for a QE2 like program were disappointed to hear today’s announcement, that the European Central Bank would continue conducting its main refinancing operations through April, but there would be no further actions at this time.

Platinum and Palladium prices are very much tied to their industrial uses, especially catalytic converters for the automobile industry. As the stock market climbs in anticipation of the effects of QE2, Platinum and Palladium prices should continue to climb as well. Today, they are soaring as Platinum is up $29.60 and Palladium is up $34.20.

Platinum American Eagles are a great way to take advantage of rising platinum prices.

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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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