Morning Gold & Silver Market Report – 1/6/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,372.40
  • Silver price - $29.30
  • Platinum price - $1,732.50
  • Palladium price - $766.40


COMMENTARY: Economic optimism remains a key phrase this morning as the metals market is trading slightly down. The official U.S. nonfarm payrolls data report comes out tomorrow and some analysts feel that a strong report (like the ADP report from yesterday) will show that the U.S. economic recovery may be in a growth phase that is accelerated beyond expectations. However, too strong of a report could mean that the Federal Reserve may start withdrawing its “QE2” stimulus sooner than expected. Of course, this optimism means that metals prices are slipping, as the dollar is firming versus some other major currencies and risk appetite is increasing as well. As we’ve mentioned in this space before, this means investors are more willing to take a risk with stocks as opposed to the safe-haven appeal of gold and other precious metals. Risk management is what portfolio diversification is all about, and there’s no better way to insure your portfolio against that risk than gold or other precious metals.

Gold spot price is currently down $2.20 – Silver price is up 7 cents – Platinum spot price is down $1.30 – Palladium spot price is down $10.30

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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
4/23/2014 9:38:47 PM EST

Metal Bid Ask Change
Gold $1,285.50 $1,287.50 $0.90
Silver $19.38 $19.48 ($0.01)
Platinum $1,394.50 $1,404.50 $0.60
Palladium $783.40 $788.40 $1.40
4/23/2014 9:38:47 PM EST

Click here for Historical Charts*All Charts are in USD

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