Closing Gold & Silver Market Report – 3/7/2011
At 4PM (CT) the APMEX precious metals spot prices were:
- Gold – $1,433.20
- Silver – $35.98
- Platinum – $1,823.50
- Palladium – $790.70
COMMENTARY: Gold and silver are holding on to the gains from earlier, while the industrial precious metals, platinum and palladium, seem to be following the stock market as it falls. “Crude oil is the catalyst,” MF Global’s Scott Meyers explains, as oil topped $105/barrel. City Index’s Ben Potter says, “Traders [are] pulling money out of equities and going to cash or safe-haven assets like precious metals in response to the deteriorating situation in the Middle East and North Africa.” The U.S. and the rest of NATO are looking into a “wide range” of potential responses to the ongoing crisis in Libya, including military options.
Gold spot price is up $3.60 on the day. Silver is up $0.59. Platinum is down $15.40. Palladium is down $20.10.
Sporting a classic look from The Royal Mint, gold and silver Britannias could be a great addition to your collection.