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Market Reports

Mid-Day Gold & Silver Market Report – 3/24/2011

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

  • Gold price – $1,439.70
  • Silver price - $37.53
  • Platinum price - $1,759.50
  • Palladium price - $753.30


COMMENTARY: Precious metal prices are backing away from their morning highs. Silver was over $38 and now is up only 26 cents. Gold spot price is currently up 70 cents – Platinum spot price is down $1.50 – Palladium price is up $3.00

Precious metals prices continue to rally with the weakened dollar again today. “You’ve got a lot of things that are stacked up in gold’s favor right now. Monetary policy is way too loose across the world. This is as bad as the negative real interest rate have been since the 1970’s”, says Adrian Ash head of research for Most world currencies are on the rise today in reaction to the falling Euro, but the US dollar is not. Is it losing its safe haven appeal?

Precious metals continue to be the safe haven for investors says Canadian asset manager Sprott Inc.’s CEO Peter Grosskopf, “We are still positioning our clients and our firm in general for a very uncertain environment and we still believe that precious metals are the primary beneficiary of the safeguard of value in uncertain times”.

The economy of Portugal is comparable to Connecticut,but do not discount the dominos that could fall as a result. German Chancellor Merkel stated that she regretted their inability to pass austerity measures. Could it be that Germany and others are getting tired of bailing fellow Euro zone members out? 

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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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