Morning Gold & Silver Market Report – 11/22/2010
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,354.30
- Silver price - $27.30
- Platinum price - $1,658.50
- Palladium price - $702.00
COMMENTARY: Gold and silver spot prices are slightly higher this morning, as platinum and palladium spot prices are slightly down. The US Dollar has remained relatively flat. Gold price is up 50 cents – Silver price is up 7 cents – Platinum price – down $12.60 – Palladium price down $3.80
Silver spot prices have surged during the fourth quarter, yet the Perth Mint is forecasting even more robust gains to come. They project silver could top $30 in 2011. Although silver may be a better buy currently trading 50 times less per oz than gold, the demand for gold in the Chinese market has only begun to heat up. Bottom line is that as Sovereign nations continue to kick the can down the road, currencies will be debased and the price of precious metals should go up.