Our Daily
Market Reports

Morning Gold & Silver Market Report – 12/9/2010

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,389.60
  • Silver price - $28.78
  • Platinum price - $1,690.00
  • Palladium price - $744.50

 

COMMENTARY: Yesterday’s corrections are leading to early morning gains in the precious metals market. The supply side of market forces often escape the headlines, but they factor in none the less. Reuters reports today that South African gold output fell 1.5% y/y in October. If previous reports coming out of Russia that Palladium stockpiles could run short in 2011 hold, Palladium prices will continue to skyrocket. If optimism of the automobile industry proves accurate, demand for both Palladium and Platinum will only increase.

Are we out of the woods? Depends on who you speak to. US home values are expected to drop by $1.7 trillion this year. There has been optimism expressed for the automobile industry, but overall, the markets still appear to be worried. Today’s jobs report continues to cause concern.

Gold spot price is up $6.40 – Silver price is up 54 cents – Platinum spot price is up $7.60 – Palladium is up $15.50

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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 &
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Monday-Friday
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Disclaimer:
APMEX 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. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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