Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 2/3/2011

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

  • Gold price - $1,354.90
  • Silver price - $28.87
  • Platinum price - $1,842.00
  • Palladium price - $822.30

 

COMMENTARY: After trading lower for most of the morning precious metal prices have surged in the past twenty minutes. Gold spot price is now up $22.30 – Silver price is up 51 cents – Platinum price is up $13.40 – Palladium spot price is up $9.80

It is unclear at this moment, whether a specific event has triggered this upsurge or if it is the cumulative effect of the news coming out of Egypt. Certainly the motive of safe haven buying is in play. No reputable authority is pretending to know how this crisis will turn out, but global leaders are pressing for change now.

Ben Bernanke just came out saying that despite small indicators of recovery, the US economy still needs help from the Fed. He further stated that unemployment should stay stubbornly above acceptable levels.

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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.

 
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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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