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Closing Gold & Silver Market Report – 5/24/2011

GOLD & SILVER RISE AS SAFE HAVEN INVESTMENT – All four precious metal prices are up and gold reached its best since May 3. It is worth pointing out that although silver went through a wild ride recently, gold did not experience the same turbulence. It is currently still near all-time highs. Most analysts would attribute this to gold being historically less volatile. Gold is viewed as a means to protect wealth through portfolio diversification and asset allocation.  

The American Precious Metals Exchange is closing their Sales and Customer Service Departments today at 3:30 PM (CT). We are located in Oklahoma City, and we are right in the bulls eye of an expected tornado outbreak. This outbreak is expected to be very severe, so we are allowing our employees the opportunity to get home and be with their families. As always, our customers can place orders 24/7 on our web site.

At 3:30 PM (CT) the APMEX precious metal prices were:

  • Gold price - $1,526.60 (up $9.70)
  • Silver price - $36.66 (up $1.67)
  • Platinum price - $1,770.50 (up $13.60)
  • Palladium price - $741.00 (up $5.20)

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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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