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Our Daily
Market Reports

Morning Gold & Silver Market Report – 2/3/2011

At 8AM (CT) the APMEX precious metal prices were:

  • Gold price - $1,338.10
  • Silver price - $28.50
  • Platinum price - $1,832.40
  • Palladium price - $813.00

 

COMMENTARY: Precious metal prices were down in overnight trading, but they are rebounding this morning. Gold spot price is up $5.50 – Silver price is up 14 cents – Platinum spot price is up $3.80 – Palladium spot is up 50 cents

Egypt continues to dominate the news as the opposition continues to gain strength. They have made it clear that they will accept nothing less than an immediate resignation from President Mubarak and that they are not interested in discussions. The violence that began suddenly on Wednesday continues and at least six protesters were killed in overnight fighting. This is a fluid situation with no end in sight and no apparent leader to step in and fill the void if President Mubarak is removed. Political  leaders around the globe will continue to monitor this situation closely.

Jim Rogers, CEO of Rogers Holdings, commented today that there will probably be more political and social unrest, which will create more turmoil with currencies, which will continue to drive up commodities. This should put upward pressure on gold prices which is utilized against currency fluctuations.

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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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Monday-Friday
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Disclaimer:
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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