Mid – Day Gold & Silver Market Report – 11/09/2010
At 12PM (CT) the APMEX precious metal prices were:
- Gold price - $1,422.80
- Silver price - $29.12
- Platinum price - $1,804.80
- Palladium price - $744.30
Commentary: Gold, silver, platinum and palladium prices continue their sharp upward momentum throughout the morning. These gains are a continuation of the momentum created yesterday on news that the World Bank Chief was calling for a new gold standard; the displeasure expressed by most G20 members over the Fed QE2 decision; the Fed QE2 decision itself remains a factor and a concern that it will further devalue the US Dollar; and European debt fears continue to flare.
Gold spot price is up $18.60 – Silver spot is up $1.65 – Platinum spot price is up $33.70 – Palladium spot is up $31.40
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.