Morning Gold & Silver Report – 2/15/2011

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

  • Gold price - $1,376.70
  • Silver price - $30.92
  • Platinum price - $1,846.00
  • Palladium price - $849.60

 

COMMENTARY: Precious metal prices are moving up as Gold spot price has risen $11.10 – Silver price is up 32 cents – Platinum spot price is up $18.40 – Palladium price is up $14.80

Precious metal prices are largely reacting to a weaker dollar and better than expected inflation data coming out of China. Inflation fears, especially in emerging markets could continue to push gold prices up. RBS analyst, Daniel Major states that this fear of inflation creates more purchases of physical metals and he sees this as a key “driver for sustained coin and bar investment in 2011.”

Two well known multibillion dollar investors still seem to like gold. George Soros raised his gold holding by 0.5% and John Paulson has kept his positions intact. Perhaps they agree that the global economy still has more problems than solutions. David Levenstein’s article, “History, QE and Financial Turmoil Point to Continued Gold Strength”  points out that if you feel the problems of the world will go away in one year, you might not want to buy gold. However, if you believe that a system built on fiat currencies issued by nearly bankrupt countries cannot endure, you might buy more gold.

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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
4/23/2014 7:18:35 PM EST

Metal Bid Ask Change
Gold $1,284.70 $1,286.70 $0.10
Silver $19.38 $19.48 ($0.01)
Platinum $1,396.40 $1,406.40 $2.50
Palladium $783.00 $788.00 $1.00
4/23/2014 7:18:35 PM EST

Click here for Historical Charts*All Charts are in USD


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