Morning Gold & Silver Market Report – 11/10/2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,406.20
- Silver price - $27.99
- Platinum price - $1,770.00
- Palladium price - $716.50
COMMENTARY: The up coming jobs report and continued debt concerns in the Euro Zone are the headlines this morning. Precious metals are rebounding off yesterday’s lows and gold is again above the $1400 mark, while silver remains well above $27. In an interview with CNBC today, World Bank President, Robert Zoellick said that tensions remain regarding foreign exchange rates and could lead to greater protectionism if not managed properly. He also stated that we are already moving towards a Bretton Woods III. Bretton Woods I, which was created in 1971 with the US Dollar designated as the reserve currency, is simply outdated.
Gold spot price is up $13.60 since yesterday’s Closing Commentary – Silver spot is up $1.05 – Platinum spot price is up $6.90 – Palladium is up $22.50