Our Daily
Market Reports

Closing Gold & Silver Market Report –10/3/2011

STOCKS TAKE A HIT; RISK OF RECESSION RISES

Precious metals are down slightly from today’s highs as stocks tumble more than 2% with concerns over the possibility of failure with the Greek default.  Even Morgan Stanley and Bank of America have taken hard hits on the news.  We are seeing some of the same things today as we did the last time there was a large drop in global stocks, as investors cover losses with safe haven investments such as gold.  The dollar is trading higher against the euro as the result of the Greek news but even though it is seen as “stronger,” it still does not mean the dollar is strong. 

Are we going to see another tailspin into recession?  Here are ten things that investors are worrying about right now.

At 4:00 pm (CT) the APMEX precious metals spot prices were:

  • Gold - $1,661.50 – Up $37.20.
  • Silver - $30.46 – Up $0.34.
  • Platinum - $1,501.80 – Down $20.60.
  • Palladium - $588.20 – Down $28.40.

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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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