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Market Reports

Mid-Day Gold & Silver Report – 3/22/2011

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

  • Gold price - $1426.20
  • Silver price - $36.34
  • Platinum price - $1740.00
  • Palladium price - $738.00

COMMENTARY: The Japanese news continues to swirl over concerns over nuclear fallout. Radioactive particles have found their way to the sea, up to as far away as Iceland. There is no concern over human health at this time. Tokyo Electric Power is working to stabilize the reactors as more water was needed to cool down the nuclear reactor, in the worst nuclear crisis in the last twenty five years.

The Libyan news seems to be improving from a United States perspective as the no-fly zone continues to shape up with other allied countries taking more responsibility. There seems to be some concern coming out of Asia in response to the implementation, with China and India both voicing concerns over foreign involvement in what they feel is an internal affair.

The global concerns continue to be the driving force behind the safe haven appeal of gold. According to Daniel Briesemann, a Commerzbank analyst, "This volatility shows market participants are still very uncertain about what is going on and where it is leading, so at least in theory, it should be supportive for gold." 

Gold spot price is down $1.20 – Silver price is up 27 cents – Platinum spot price is down $5.90 – Palladium price is down $5.30

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APMEX’s ‘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, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.


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