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Market Reports

Closing Gold and Silver Market Report – 01/12/2011

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

  • Gold price - $1,388.80
  • Silver price - $29.71
  • Platinum price - $1,803.90
  • Palladium price - $812.00

COMMENTARY: Today’s precious metals trend continued as gold and silver remained relatively flat, while platinum and palladium gained on industrial demand. As mentioned earlier in this space, Portugal’s debt auction was considered successful by many, and major euro zone states are concocting a resolution to the bloc’s debt crisis within the next two months. German Deputy Foreign Minister Werner Hoyer alludes that Portugal should not be forced into a European-led financial rescue, which a bond auction today showed may not be needed. The news of the successful sale of bonds, however, has not alleviated the debt concerns still felt in the euro zone. Pradeep Unni, senior analyst at Richcomm Global Services, says, "With the euro still deep (in the) debt crisis and physicals using every dip to buy the metal on anticipation of an extended rise, there is little downside possibility for gold, at least in this quarter.” He even goes on to add, "Weakness in the dollar and rising oil will add to the...reasons to hoard gold."

Gold spot price was up $3.50 on the day – Silver price was up 20 cents – Platinum price was up $35.60 – Palladium price was up $27.30.

When looking to “hoard” gold and protect your investable assets, you may want to keep Credit Suisse Gold Bars or Johnson Matthey Gold Bars in mind.

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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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