Mid – Day Gold & Silver Market Report – 12/21/2010
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,389.10
- Silver price - $29.40
- Platinum price - $1,722.40
- Palladium price - $751.30
COMMENTARY: As predicted in this morning’s commentary, gold and silver are fluctuating within tight trading ranges. Platinum and palladium are the exceptions,as they continue an upward climb. South African mining companies supply 75%-80% of the world's platinum. There are reports that output will fall this year by 1% and next year will be challenged by a strong South African rand and rising mining costs. This should continue to support and/or boost both platinum and palladium prices.
Gold prices are being influenced by turmoil in African gold mines as delays are occurring due to lead poisoning in the children of the area. This will affect the supply and demand and will more than likely affect prices to some degree. Over-all the prices will probably move laterally due to the holiday season with people out of town and investing in gifts rather than metals.
Gold spot price was up $2.70 from the morning commentary – Silver is up another 2 cents – Platinum price is up another $8.90 – Palladium price is up $8.00