Mid-Day Gold & Silver Market Report – 3/23/2011
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,440.30
- Silver price - $37.25
- Palladium price - $1,760.40
- Palladium price - $750.10
COMMENTARY: Precious metal prices are all rising sharply this morning and silver has once again crossed $37 per oz. Gold spot price is up $11.70 – Silver price is up 90 cents – Platinum price is up $20.00 – Palladium price is up $11.30
Safe haven buying continues to be the theme as silver prices have surged past $37 and gold is moving up as well. Oil prices rose above $105, as a report came out today stating gasoline inventories in the United States fell more than expected. This unexpected fall is attributed to the violence and turmoil occurring in the Middle East and North Africa. More unpleasant news surfaced as new homes sales continue to disappoint.It does appear that either we are in or about to experience, a double dip recession in the housing market.
A bomb struck a bus stop in Jerusalem killing one women and injuring another 20. Gold and silver prices did begin a move up on the news.