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Market Reports

Mid-Day Gold & Silver Market Report – 12/29/2010

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price – $1,413.30
  • Silver price - $30.61
  • Platinum price - $1754.40
  • Palladium price - $793.50

COMMENTARY: Precious metals are continuing their bullish trend today, partly thanks to weakness in the U.S. dollar, and managing director at Barclays Capital, Kevin Norrish, says that investors are seeking a hedge against inflation risks and uncertainty in the global financial system. The US Dollar is shedding 0.24%. Gold is up 26% for 2010 and 400% for the last decade. Goldman Sachs says it will top $1750 an ounce in 2012. US holiday retail jewelry sales are up 7.2% and total spending just by 5.5% which affects the supply and demand of silver and gold and thus, will bring up their price. There is also more geopolitical unrest as police arrest militant Islamists suspected of planning an attack on Denmark.  Dennis Gartman, author of the Gartman investment newsletter, speculates that the trend on gold is still pointing upward.


Gold is up $7.20 on the day – Silver up 28 cents – Platinum is up $1.70 – Palladium is up $5.30

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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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