Closing Gold & Silver Market Report – 12/2/2011


Gold prices maintained their morning gains, but the same was not true for the stock market. Stocks gained as much as 150 points, but gave back all of the gain by day’s end. It might be that Friday’s jobs report was not as positive as first viewed. The overall unemployment rate fell to 8.6%, but that might be explained by the number of people who have given up looking for jobs and are therefore no longer counted in the numbers. The number of discouraged workers rose by 129,000.

Chinese regulators implemented policy changes over the past year to encourage Chinese citizens to buy more Gold. China is currently behind only India in world Gold consumption. The new regulations obviously are working as Gold purchases in China via Hong Kong for the month of September jumped sixfold! The Chinese mainland imported a record 56.9 tons via Hong Kong in September. In the third quarter, China imported about 140 tons, which was more than the 120 tons imported in all of 2010. U.S. investors often forget that India and China have more to do with Gold prices than what happens here in the U.S.

Next Friday is the day European leaders will meet in Brussels, Belgium, and the world will be watching to see if they can come up with a viable plan to fix the eurozone’s massive debt problems. Stay tuned!

At 4 p.m. (CST), the APMEX precious metals spot prices were:

  • Gold price -$1,747.10 – Up $9.30.
  • Silver price - $32.68 – Down $0.07.
  • Platinum price - $1,551.20 – Down $7.00.
  • Palladium price - $644.30 – Up $14.10.

« Return to Commentaries


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.

US Dollar Prices are in USD

Precious Metal Prices
4/25/2014 12:23:31 AM EST

Metal Bid Ask Change
Gold $1,292.10 $1,294.10 $1.50
Silver $19.51 $19.61 ($0.14)
Platinum $1,402.60 $1,412.60 $3.00
Palladium $797.00 $802.00 ($1.30)
4/25/2014 12:23:31 AM EST

Click here for Historical Charts*All Charts are in USD

Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More

APMEX Reviews

Just a short note, I've been dealing with you for several years your products are excellent customer service top shelf, packaging delivery top notch, and a easy fun website to look at.

Kevin | January, 2014 View All

As seen on...