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Market Reports

Closing Gold & Silver Market Report – 7/11/2011

GOLD CONTINUES UPWARD AMID EQUITIES LOSSES – Concern over Europe’s sovereign debt crisis pushed gold up today, aided by a significant drop in stock prices. 

Italy and Spain seem to be in ever-increasing trouble lately. In the last few trading days the interest rates investors demand to loan money to the two governments skyrocketed, indicating a growing fear that investors might not get paid back.  A rise in interest rates reflects an increase in risk.

With Europe’s debt crisis as yet unresolved, Barclays Capital released a report stating it expects the dollar to rise in value over the next three months.  They compare the dollar to the Swiss franc, which has been a safe-haven currency and has held its value during the financial turmoil and recession of the last few years.  “If, however, euro area events get much worse, we think it would become an increasingly important problem for global financial markets. In which case, even given the weak payrolls data, the dollar looks best placed to benefit.”

Most advisors suggest at least a small allocation of assets to Gold as a hedge against market uncertainty and inflation.

At 12:08 PM (CDT) the APMEX precious metals spot prices were:

  • Gold - $1,555.80 – Up $13.20 on the day.
  • Silver - $35.81 – Down $0.79.
  • Platinum - $1,729.50 – Down $3.90.
  • Palladium - $769.60 – Down $11.30.

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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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