Mid – Day Gold & Silver Market Report – 1/5/2011
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,378.40
- Silver price - $29.34
- Platinum price - $1,733.20
- Palladium price - $776.00
COMMENTARY: Precious metal prices are rebounding despite the positive jobs report and a strengthening US Dollar. Gold price is up $2.40 from the Morning Commentary – Silver spot price is up 2 cents – Platinum price is up $11.10 – Palladium price is up $20 since the morning and $6.00 for the day.
There is skepticism about the ADP jobs report and not everybody believes the economy actually created 297,000 jobs. This article points out that ADP has had some big misses in the past and seasonal issues could be a factor as well. ADP does use a different methodology than the Labor department, so their numbers often do not match.
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.