Our Daily
Market Reports

Morning Gold & Silver Report – 3/9/2011

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

  • Gold price - $1436.60
  • Silver price - $36.42
  • Platinum price - $1813.20
  • Palladium price - $798.40

COMMENTARY: The Middle East news continues to be a push to global concern. Muammar Qaddafi continues to fight rebels in western Libya. He also has planned and carried out air and artillery strikes within the region. The U.S. and its allies are debating ways to stop Qaddafi’s attacks, including implementing a no-fly zone in the region. The beginnings of this civil war came about from popular protest movements in the area, which has now created concerns this movement could move towards the largest oil producer in the world, Saudi Arabia.

In domestic news, the oil issue does not seem to have really hit our own supplies, as OPEC decides not to meet. Mortgage applications are also at their highest level in 3 months. However, there are still concerns over government shutdowns and cuts in popular government programs.

The foreign and domestic concerns are still pushing the safe haven appeal of precious metals as prices are on the rise this morning.

Gold spot price is up $8.40 – Silver price is up 69 cents –Platinum spot price is up $9.60 – Palladium price is up $10.70

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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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