Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Closing Gold & Silver Market Report – 4/1/2011


Gold ended the first quarter on record highs and silver ended on its 31 year record, but both began April trading lower on perceived positive jobs news. If the job market is improving we may anticipate an end to the QE2 program and an interest rate hike later this year. However, William Dudley, president of the New York Federal Reserve Bank, is warning of over-optimism with the economy. Up until now, loose monetary policy and currency devaluation has driven the price of gold and silver up. We are still seeing an increase in demand which is causing an increase in prices because individuals are flocking to the safe haven appeal of precious metals.

It is common for investors to sell off precious metals after positive gains; today’s dips could be part of the typical trend seen when there is positive news that bolsters the market. Another factor putting a damper on prices are the reports that Libyan rebels are calling for a cease-fire in the wake of U.S. withdrawing its warplanes. A Libyan official has said that Qaddafi’s regime is attempting to meet with the U.S, French, and other officials to put an end to the conflict.

The turbulent first quarter is over. As the geopolitical landscape begins to calm down and the U.S. economy tries to gain more stable ground, we still hear about issues coming from the euro zone.  Gold, silver, and the other precious metals react to market forces but their value survives beyond the monetary policy decisions of any bank or government.

At 4:13PM (CT) the APMEX precious metals spot prices were:

  • Gold – $1429.20 (down $10.70)
  • Silver – $37.91 (down 5 cents)
  • Platinum – $1768.50 (down $13.70)
  • Palladium - $775.50 (up $6.70)

The Royal Canadian Mint has recently released the second of four installments of its Wildlife Series, The Canadian Grizzly, to join The Canadian Wolf.

« Return to Commentaries

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
8:20 a.m.-1:30 p.m. (ET)
8:25 a.m.-1:25 p.m. (ET)
8:20 a.m.-1:05 p.m. (ET)
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)

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.

 (0)

There are no items in the cart.