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Market Reports

Closing Gold & Silver Market Report – 2/7/2011

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

  • Gold price - $1,351.80
  • Silver price - $29.43
  • Platinum price - $1,840.80
  • Palladium price - $820.00

COMMENTARY: Precious metals struggled today as physical buying supported prices but technical selling kept the prices from really taking off. Gold is currently trending below its 100 day moving average ($1,362.20), which is usually the best time to buy. There is news that England is having its central banks meet Thursday to consider bumping up interest rates which would in turn push gold up. Russia is also suffering from heated inflation and is taking more gold friendly actions such as increasing the amount of money banks must hold in their reserves. Another reason precious metals have been held back is the sixth straight day of gains in the DOW, as well as news that Egypt’s stock exchange is set to reopen on Sunday.

Gold spot price is up $2.30 cents – Silver spot price is up 31 cents – Platinum is down $5.00 cents – Palladium is up $1.60

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World Market Trading Hours

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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