Mid – Day Gold & Silver Market Report – 12/23/2010
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,380.90
- Silver price - $29.40
- Platinum price - $1,718.80
- Palladium price -$757.00
COMMENTARY: Oil hit its highest level since October 2008 and it seems inevitable that we will see $100 a barrel again. North and South Korea are in the news with each warning the other prior to military exercises in South Korea. North Korea warns of a “sacred war” while South Korea vowed a “merciless counterattack. Ireland announced today that it is taking over yet another bank. The government will be injecting $4.8 billion dollars into Allied Irish. This is the fourth bank the Irish government has taken over.
Despite news that would normally drive precious metals upwards, there very low volume leading into the holidays. Gold spot price is down $7.00 – Silver price is unchanged –Platinum spot price is down $13.10 – Palladium spot is 90 cents.