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Market Reports

Mid-Day Gold & Silver Market Report – 2/8/2011

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,369.00
  • Silver price - $30.31
  • Platinum price - $1,861.70
  • Palladium price - $840.60


COMMENTARY: Gold prices continue to surge and are now up $20.30. Silver spot price has once again crossed $30 and is up 90 cents on the day. Platinum spot price is up $17.50 and palladium price is up $19.60

Inflation has the market’s attention today. When China raises interest rates to curb inflation, gold prices generally drop, as its safe haven value is perceived to decline. Why is gold climbing today? The inflation picture in China might be bringing more focus on the potential for inflation in the US and Europe.  Representative Paul Ryan, while appearing on CNBC this morning, claims that the Fed is missing their opportunity to stave off inflation. He fears that if inflation is not pre-empted now, by the time it is addressed it will be a serious and unpreventable event.

No wonder smaller investors continue to be cautious of the stock market. Yesterday it was revealed that the NASDAQ has been hacked and today yet another story of hedge fund managers getting arrested for insider trading. It looks like whenever federal prosecutors cast their lines that there are plenty of fish to catch. Can the small investor get a fair break? Good question.

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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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