Our Daily
Market Reports

Morning Gold & Silver Market Report – 2/7/2011

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

  • Gold price - $1,353.00
  • Silver price - $29.36
  • Platinum price - $1,848.50
  • Palladium price - $822.30

 

COMMENTARY: Just when investors thought it was safe to go back into the water, news of hackers successfully infiltrating NASDAQ computers will be yet another blow to investors’ confidence. Although NASDAQ officials are saying that there has been no evidence that hackers accessed or acquired customer information or interfered with trades, there is concern of potential access to “inside information”. “Flash crashes”; “Splash crashes” and just last week there was an hour long freeze in two widely followed NASDAQ indexes. Precious metal investors should consider what portion of their precious metal allocation needs to be in the actual physical metal and not just paper trades.

Clearly there is a disconnect on the state of our economy between the daily news cycle chatter and Fed Chairman Ben Bernanke. We hear daily how many analyst feel the economy is improving, but the Fed certainly does not seem so sure. The dismal job reports on Friday (no matter how you try to spin the drop to 9%) did not help. Not only has Chairman Bernanke made it clear that QE2 would progress as scheduled, Kansas City Fed President, Thomas Hoenig, has stated that QE3 might still get discussed.

Gold spot price began the morning lower but is now up $3.50 – Silver spot is climbing 24 cents – Platinum spot price is up $2.70 – Palladium spot is up $3.80

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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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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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