Mid – Day Gold & Silver Market Report – 12/30/2010
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,406.00
- Silver price - $30.48
- Platinum price - $1,746.00
- Palladium price – $787.50
COMMENTARY: The dollar continued to decline today, but there is some good news. Jobless claims decreased to the lowest levels in two years. John Silvia, Chief Economist at Wells Fargo Securities in North Carolina, says that business confidence is starting to appear and really just waiting on the American consumer. Of course, there was more negative news on housing and prices are expected to dip in 2011.
Precious metals prices are still being influenced by brokerages selling off prior to the end of the year, but according to Frank Lesh, gold is still an alternative to foreign monies and our own government money.
Gold spot price is down $8.00 –Silver spot is off 23 cents – Platinum spot price is down $9.20 – Palladium price is off $6.90
Prices are down but trading volumes are very low.