Morning Commentary – October 25, 2010
At 8AM (CT) the APMEX spot prices were:
- Gold - $1,346.50
- Silver - $23.82
- Platinum - $1,703.10
- Palladium - $613.90
COMMENTARY: The Finance Ministers at the G20 were quick to toast to a successful meeting, but at best, there appears to be an uneasy truce. You can find comments that progress was made and you can find disappointment that substantive measures were not adopted. The United States and China remain at opposite ends of the debate, with little done to bridge the gap. The decision to shift 6% of the IMF voting power to Emerging Market Countries is a reflection of the shift of economic power to the East. There is much to be done, as trade imbalances have other fundamental issues to be worked out besides currency movements.
The price of all Precious Metals are on the rise in early trading. Gold rose more than 1% and Palladium is the highest it has been since 2001.