Closing Gold & Silver Report – 11/3/2010
At 4PM (CT) the APMEX precious metal spot prices were:
- Gold price - $1,349.80
- Silver price - $24.87
- Platinum price - $1,706.50
- Palladium price - $649.00
COMMENTARY: Early morning profit taking came to a halt, as the Federal Quantitative Easing announcement was more aggressive than expected. The gold spot price had declined as much as $30 before bouncing up $22 before close. Silver climbed from 90 cents down to a positive 1 cent at close. Many analysts have predicted a bull market for precious metals, if this scenario were to occur. Gold spot price finished down $8.10 – Silver spot was up one penny – Platinum spot was down $11.60 – Palladium spot was up $1.50
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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.