Our Daily
Market Reports

Morning Gold & Silver Market Report – 10/7/2011

JOBS REPORT BETTER, NOT ENOUGH TO MAKE A DENT IN UNEMPLOYMENT

In overnight trading, gold reached as high as $1,669, and is currently resting slightly lower than that after the release of the U.S. jobs report from September.  The report showed that 103,000 jobs were added in September, about 44,000 more than expected.  The unemployment rate, however, was unchanged at 9.1%, and to maintain that rate, 125,000 jobs need to be added month-to-month.  So, although today’s news was good news, it’s still not what’s needed to reduce the rate.  Stock futures started low, but turned higher after the report.

Former Federal Reserve Chairman Alan Greenspan said recently regarding the European debt crisis: “I think it’s very dangerous.  Everyone’s got their fingers crossed.”  When questioned about the threat of the contagion in Europe reaching American shores, Greenspan said, “This is an integrated system.  The presumption that somehow the huge American banking system … is independent of Europe is, I think, just utterly unrealistic.  It looks independent until it isn’t.”

The situation in Syria has not improved, and now the government is pointing the blame at foreign powers.  Deputy Foreign Minister Faisal Mekdad said that over 1,100 security personnel have been killed in the situation, and accused the media of creating a propaganda war against President Bashar al-Assad’s rule.  The statements were given in front of the U.N. Human Rights Council, where envoys from Britain, France, and the U.S. called on Syria to halt executions, arbitrary detentions, torture, and enforced disappearances of civilians.

At 8:06 am (CT) the APMEX precious metals spot prices were:

  • Gold - $1,656.50 – Up $1.30.
  • Silver - $32.22 – Up $0.17.
  • Platinum - $1,530.50 – Up $22.40.
  • Palladium - $611.00 – Up $10.20.

« Return to Commentaries

World Market Trading Hours

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.

 
COMEX &
NYMEX Markets
Monday-Friday
8:20 a.m.-1:30 p.m. (ET)
Monday-Friday
8:25 a.m.-1:25 p.m. (ET)
Monday-Friday
8:20 a.m.-1:05 p.m. (ET)
Monday-Friday
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)
Monday-Friday
6:00 p.m.-5:00 p.m. (ET)

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.

Items In Cart


There are no items in the cart.

PLATINUM