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Our Daily
Market Reports

Mid-Day Gold & Silver Report – 3/7/2011

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

  • Gold price – $1432.60
  • Silver price – $36.07
  • Platinum price – $1823.30
  • Palladium price – $790.80

COMMENTARY: The rumor out of Libya is that Muammar Gaddafi is seeking safe passage out of Libya. The BBC reported the rumor based on one of Gaddafi’s associates appealing to opposition chiefs to open dialogue, which shows an easing into a potential compromise in the area. This news has caused a pull back in oil prices. There are also reports stating that safe passage out of Libya is also highly unlikely for the embattled leader.

The current economic news also seems to hinge directly on geopolitical concerns and oil pricing. There are also fears the market may be overbought, which only increases the safe haven appeal of precious metals in the marketplace.

Gold spot price is up $2.80 – Silver price is up 68 cents – Platinum spot price is down $15.60 – Palladium is down $20.10

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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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