Mid-Day Gold & Silver Market Report – 3/9/2011

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,430.90
  • Silver price - $36.04
  • Platinum price -$1,802.90
  • Palladium price - $782.10

 

COMMENTARY: With the exception of silver, which has sprung up 32 cents, the precious metals market is flat so far today. Gold spot price is up $2.70 –Platinum is off 70 cents – Palladium spot price is down $5.60 

Gold and silver, which are historically seen as safe haven assets, are moving up for this very reason. There is the mounting geopolitical tensions going on in the Middle East, as well as mounting concerns about inflation. Investors need a wealth protection strategy built into their asset allocation model and gold and silver provide this insurance (safe haven).  

Pimco’s CEO Bill Gross announced today that they were selling all US Treasury Bond Holdings out of their largest fund. This is a clear indication that Mr. Gross does not feel there will be a QE3 and if the Fed quits buying Treasury Bonds, then who will? Mr. Gross stated,  "Bond yields and stock prices are resting on an artificial foundation of QE II credit that may or may not lead to a successful private market handoff and stability in currency and financial markets.” According to Tyler Durden at Zerohedge, if Bill Gross does think there will be a QE3, it might be time to get out of all security classes, which include bonds and equities.

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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
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD


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