Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/7/2011

THREE DAYS OF RECORDS FOR GOLD

Although not as impressive as the past two days, gold has proved it has staying power and reached an intraday record of $1,466.50 an ounce. George Gero, a vice president with RBC Wealth Management said, “Silver and gold’s runs are the response to geopolitical and inflation fears.” This isn’t a new story, as it has played out over the past several weeks in response to the sovereign debt crisis, the tension in North Africa and the Middle East and the tragedy in Japan. Those same factors were influences again today.

Although the European Central Bank raised key interest rates by 25 basis points today, precious metals barely flinched at the change. The ECB President made comments at a press conference, saying, “We did not decide that this was the first of a series of interest rate increases but ... we always do what is necessary to ensure price stability." Real interest rates are still higher, so physical assets, such as gold and silver, may be more attractive than cash.

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

  • Gold spot price - $1459.60 (up $1.10)
  • Silver spot price - $39.73 (up 27 cents)
  • Platinum spot price - $1786.30 (down $10.50)
  • Palladium spot price - $778.80 (down $6.90)

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for gold, silver, platinum and palladium on our Spot Price Charts page.

 
COMEX &
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
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-5:15PM
Monday-Friday
6:00PM-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.

AURIC