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Market Reports

Closing Gold & Silver Market Report – 3/31/2011


COMMENTARY: The Dow industrials finished its best first quarter in more than a decade near their bull-market high.  Gold and silver have out-performed the market today, with gold at a record high, and silver at a 31-year high. Investors were buying precious metals ahead of the jobs report tomorrow, unsure of what it would say, and for protection against a weakening dollar. Although the European Union has its share of debt problems, the Euro is gaining against the dollar on expectations that the European Central Bank will raise interest rates next Thursday. The U.S. dollar was lower by 0.34% today and was feeling continued pressure from the Euro.

Historically, world monetary policies have an impact on precious metals prices, but some feel that the unrest in the Middle-East and Africa are having a bigger impact on day-to-day prices. Jim Steel, a precious metals analyst with HSBC in New York said, “Geopolitical concerns are taking the lead over expectations of [monetary-policy] tightening.” With the continued unrest in Libya and Gadhafi’s forces taking back the key oil town of Ras Lanuf, the price of a barrel of oil pushed past $106.

At 4:15 PM (CT), the APMEX precious metals spot prices were:

  • Gold - $1,433.00 (up $8.20 on the day)
  • Silver - $37.73 (up $0.15)
  • Platinum - $1,769.40 (up $4.00)
  • Palladium - $764.30 (up $5.20)

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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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