Morning Gold & Silver Market Report – 12/15/2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,389.10
- Silver price - $29.08
- Platinum price - $1,703.10
- Palladium price - $750.90
COMMENTARY: Precious metal prices are falling this morning in reaction to the Fed decision yesterday to maintain their current level of bond buying. There had been speculation that they would increase from current levels. The US Dollar has increased moderately on the announcement . Rick Santelli, CNBC On-Air Editor, states that the recent Fed statement was virtually the same as the last Fed Statement. He goes on to say that the Fed action has not been successful and that the only sure probability is inflation.
Gold spot price is down $15.20 – Silver price is down 71 cents – Platinum spot price is off $11.80 – Palladium price is off $17.40
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.