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Market Reports

Morning Gold & Silver Report – 2/4/2011

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

  • Gold price - $1,356.00
  • Silver price – $29.13
  • Platinum price - $1,844.30
  • Palladium price – $817.00


COMMENTARY: Economists had anticipated an increase of 145,000 in non-farm payrolls, but today's report just came out with a disappointing number of only 36,000.  The overall unemployment rate somehow still dropped to 9%, but it is unlikely this will alter the Fed’s plan to continue with the $600 billion QE2 program. In a statement yesterday, the Fed Chairman stated that he still expects it to take several years before unemployment rates return to a more normal level.

In Egypt, last night’s fighting has given way to a more peaceful mass protest, as protestors gather once again in Cairo’s Tahrir Square. Many observers see today as a turning point testing the resolve of both President Mubarak and the protestors. It is a volatile situation, that is being monitored worldwide.

Precious metal prices dipped on the jobs report news, but they are already rebounding. Gold spot price is currently up $2.50 – Silver price is up 34 cents – Platinum price is up 20 cents – Palladium price is down $5.50

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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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