Closing Commentary – 10/15/2010
AT 4PM (CT) the APMEX spot prices were:
- Gold - $1,369.00
- Silver – 24.33
- Platinum – 1,696.30
- Palladium – 593.50
COMMENTARY – After starting off in positive territory, the precious metal market gave back most of its progress. Prices retreated on widespread profit-taking and pronouncements coming from the Federal Reserve Bank Chair Ben Bernanke. Although the stock market ended the week higher, it, too, was down for the day. Higher than expected retail sales helped to increase precious metal selling pressure.
APMEX’s 2011 Gold and Silver Maple Leaf coins were strong sellers among precious metal buyers today.
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.