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Market Reports

Mid-Day Gold & Silver Market Report – 1/13/2011

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

  • Gold price: $1,385.80
  • Silver price: $29.33
  • Platinum price: $1,821.00
  • Palladium price: $814.00

COMMENTARY:  Gold and silver are staying in limbo today with mixed news floating about. Platinum and Palladium are continuing to make gains on the industrial market’s gains. As mentioned this morning, Portugal and Spain did exceptionally better than expected in the debt auction which has people relaxing a little about Europe’s debt crisis and now there is news that South Korea has also raised key interest rates by 25 basis point to fight rising costs. This came after President Lee-Myung-bak reportedly announced a “war inflation.” This kind of talk may say more to the severity of the situation in the Koreas than any positive action to stop inflation.

GFMS notes that the view that all of the world currencies will go flat is informing gold investment activity, with gold being regarded as the best hedge against official policies that are seen as undermining these currencies. GFMS also believes that gold prices of $1600 are feasible this year.

Gold spot price is down $1.50on the day – Silver is down 25 cents – Platinum is up $20.90 – Palladium is up $6.30.

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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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