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Market Reports

Mid-Day Gold & Silver Market Report – 3/8/2011

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

  • Gold price - $1,429.50
  • Silver price - $35.86
  • Platinum price - $1,804.60
  • Palladium price - $787.80


COMMENTARY: Events in the Middle East have settled (for the moment), so oil and gold prices are experiencing profit taking and the US dollar goes up. We should note as Alan Greenspan pointed out recently on CNBC, the Euro and the Dollar are both weak, so it is not significant, as they go up or down relative to each other. Oil and gold prices have a positive correlation and most analysts still expect more unrest in the Middle East and additional increases in oil prices.

Noted economist, Nouriel Roubini, who is known for having predicting the global financial meltdown can still foresee a double dip recession if oil were to go to $140. He is making a point on just how fragile this global economic recovery is. It would not take much to tip it in the wrong direction.

Gold spot price is currently down $6.00 – Silver price is down 8 cents – Platinum spot price is off $16.80 –Palladium price is off $3.30

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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.

NYMEX Markets
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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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