hp-free-shipping-truck Free Shipping On Orders Over $99

Our Daily
Market Reports

Morning Gold & Silver Market Report – 7/29/2011


A vote on House Speaker John Boehner’s deficit-reducing debt ceiling deal was cancelled yesterday, after Boehner failed to garner enough support from his fellow Republicans.  In any case, the Senate was prepared to vote down the bill, however from there the Senate was expected to work on a compromised plan.  Senator Harry Reid’s plan was unlikely to garner any Republican support, so it is not considered to be significant at this time.  Standard and Poor’s has reiterated that a credit rating downgrade is likely for the U.S., even if a debt ceiling deal is made before the August 2 deadline.

Moody’s Investor Services placed Spain on review for a possible downgrade in their credit rating.  It appears that the bailout of Greece that was intended to stop any contagion to other eurozone countries has not worked as advertised.  The euro fell amid the news, strengthening the dollar.

A consumer-spending report was released today, and showed slower-than-expected economic growth. Higher gas prices contributed to the low spending.  Gross domestic product rose at a 1.3 percent annual rate, while first-quarter output was revised sharply.  The original GDP estimate for the first quarter was 1.9 percent, and after the revision, it sits at just 0.4 percent.  Gold and silver prices rose thanks to this report, and the metals are also being buoyed by the ever-thickening plot regarding the debt ceiling.

At 8:08 am (CT) the APMEX precious metals spot prices were:

  • Gold - $1,626.10 – Up $10.90.
  • Silver - $40.34 – Up $0.49.
  • Platinum - $1,784.60 – Down $7.80.
  • Palladium - $827.40 – Down $2.80.

« 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.


There are no items in the cart.