Morning Gold & Silver Market Report – 2/8/2011
At 8AM the APMEX precious metal prices were:
- Gold price - $1,363.70
- Silver price - $29.75
- Platinum price - $1,852.20
- Palladium price - $825.00
COMMENTARY: Precious metal prices are beginning to rise as Gold spot is currently up $15.00 –Silver price is up 34 cents – Platinum spot price is up $7.20 – Palladium price is up $4.00
The news that China is raising interest rates for the second time in six weeks would normally suppress precious metal prices, but it may be going in the opposite direction today. Perhaps it is the concern that the inflation China faces now could be the same inflation we face in the near future.
You would think the lessons learned by the credit collapse in 2008 would not need to be repeated any time soon,but CNBC Senior Editor, John Carney thinks the credit markets are going berserk again. Largely as a result of the Fed’s monetary policy, the market is flooded with cash seeking better yields. Deals based on looser covenants will put pressure on investment banks to go after more aggressive deals for their wealthier clients. Often,these deals become more and more creative in their structuring. Where have we seen this before?