Mid – Day Gold & Silver Market Report – 12/3/2010
At 12PM (CST) the APMEX precious metals prices were:
- Gold price - $1407.20
- Silver price – $29.26
- Platinum price - $1730.20
- Palladium price - $770.00
COMMENTARY: Gold is up after breaking through the psychological barrier at $1,400.00. This upward turn is due, in part, to the value of the dollar tumbling by 1% against international currencies. The drop in the value of the US dollar is a solid indicator of the Euro making a recovery and the Chinese Yuan continuing its climb. Long-term, or structural, unemployment remains high at 17% driving many investors to “alternate” products including precious metals.
Gold price is up $17.90 – Silver spot price is up $0.69 – Platinum price is up $16.10 – Palladium spot price is up $6.30
APMEX’s ‘News and Commentaries’ 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.