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Morning Gold & Silver Market Report – 12/22/2010

  • Gold price - $1,390.00
  • Silver price - $29.39
  • Platinum price - $1,729.30
  • Palladium price - $758.90

 

COMMENTARY: The IMF released a statement Tuesday night saying they have completed a large program of gold sales (reportedly 403.3 tonnes), thus removing one of the few bearish elements restraining the gold bullion market. Gold spot price has not moved appreciatively on the news, but this is not unexpected as company’s continue to unwind positions before December 31. Palladium continues its upward climb, perhaps on the statement issued by Norilsk (the world’s biggest producer of nickel) that they see Russia selling “insignificant” amounts of palladium next year before completely exiting the market in 2012.

Gold spot price is up 70 cents – Silver price is down 1 cent – Platinum price is up $5.10 – Palladium spot price is up - $4.90

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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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