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Closing Gold & Silver Market Report – 4/7/2011


Although not as impressive as the past two days, gold has proved it has staying power and reached an intraday record of $1,466.50 an ounce. George Gero, a vice president with RBC Wealth Management said, “Silver and gold’s runs are the response to geopolitical and inflation fears.” This isn’t a new story, as it has played out over the past several weeks in response to the sovereign debt crisis, the tension in North Africa and the Middle East and the tragedy in Japan. Those same factors were influences again today.

Although the European Central Bank raised key interest rates by 25 basis points today, precious metals barely flinched at the change. The ECB President made comments at a press conference, saying, “We did not decide that this was the first of a series of interest rate increases but ... we always do what is necessary to ensure price stability." Real interest rates are still higher, so physical assets, such as gold and silver, may be more attractive than cash.

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

  • Gold spot price - $1459.60 (up $1.10)
  • Silver spot price - $39.73 (up 27 cents)
  • Platinum spot price - $1786.30 (down $10.50)
  • Palladium spot price - $778.80 (down $6.90)

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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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World Markets
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6:00 p.m.-5:00 p.m. (ET)
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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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