Our Daily
Market Reports

Closing Gold & Silver Market Report – 3/7/2011

At 4PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1,433.20
  • Silver – $35.98
  • Platinum – $1,823.50
  • Palladium – $790.70

COMMENTARY:  Gold and silver are holding on to the gains from earlier, while the industrial precious metals, platinum and palladium, seem to be following the stock market as it falls.  “Crude oil is the catalyst,” MF Global’s Scott Meyers explains, as oil topped $105/barrel.  City Index’s Ben Potter says, “Traders [are] pulling money out of equities and going to cash or safe-haven assets like precious metals in response to the deteriorating situation in the Middle East and North Africa.”  The U.S. and the rest of NATO are looking into a “wide range” of potential responses to the ongoing crisis in Libya, including military options.

Gold spot price is up $3.60 on the day.  Silver is up $0.59.  Platinum is down $15.40.  Palladium is down $20.10.

 

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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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