Closing Gold & Silver Market Report – 1/5/2011

At 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,379.60
  • Silver price - $29.30
  • Platinum price - $1,732.00
  • Palladium price - $777.40

 

COMMENTARY:Precious metal prices fluctuated in a tight range today, finishing slightly down. This was  due to the positive numbers in the stock market, as well as gains on the U.S. dollar. Gold hit three-week lows yesterday but as Matt Zeman , a trader at LaSalle Futures Group in Chicago said, “you have some investors looking to buy this pullback.” He goes on to say, “gold got overextended as 2010 drew to a close and it has suffered as investors rebalance their portfolios.” This is to be expected when great gains are made because one must keep their portfolio balanced as much as possible, and when one part of your portfolio gains you need to shift those gains to another part of your portfolio that has lost.

Gold spot price finished down 30 cents – Silver spot price was off 24 cents – Platinum spot price was down $13.40 – Palladium price bounced all the way back to up $7.40

When looking to invest in precious metals gold bars offer a lower premium with the ability to buy in bulk at a lower price. However, if you like a more traditional investment some like the idea of the 2011 Silver Eagle coins.

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Disclaimer:

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.

US Dollar Prices are in USD

Precious Metal Prices
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD


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