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Market Reports

Closing Gold & Silver Market Report – 1/7/2011


At 4PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,370.70
  • Silver price - $28.72
  • Platinum price - $1,736.80
  • Palladium price - $754.40


COMMENTARY:Today followed the trend of the last couple days as precious metals moved slightly lower in daily trading. They began at their low and then rebounded on the disappointing Labor Department’s nonfarm jobs report.  Greece became the world’s riskiest borrower in the 4th quarter of 2010, surpassing Venezuela, while Spain, Portugal and Ireland grew riskier than Iraq. There will be much more to come on this European debt crisis. Ben Bernanke testified before Congress today that it will take 4-5 years before employment numbers normalize. Of course, there are many factors such as low inflation that could draw this out even further. Bottom line is that we are in a fragile economic environment and it would not take much to tip us over.

Gold spot price finished down $2.00 – Silver spot was down 41 cents – Platinum spot price was up $3.70 – Palladium price was down $9.50

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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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