Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Morning Gold & Silver Market Report – 8/31/2011


In overnight trading, global stocks were largely higher (along with platinum and palladium), while gold and silver were mainly flat.  U.S. stock futures are still up after the slightly disappointing ADP Private-Sector Jobs report, which showed a gain of 91,000 jobs this month.  Investors are clinging to optimism, however, and one group of analysts explained it by saying, “With the decline in the stock market, debate in Washington, and [the] downgrade to the U.S. credit rating, it very much could have been worse.”  On tap for economic data today are releases of the Chicago purchasing managers index for August and factory orders for July.

In an effort to stimulate the troubled economy, specifically the housing market, the Obama administration is reported to be unveiling a mortgage relief program next week.  The administration’s last initiative, the Home Affordable Refinance Program, fell vastly below expectations.  The program was targeted to save up to 5 million homes from foreclosure, but has only prevented slightly over 800,000 to this point.

China is looking to increase its holdings on gold and other commodities yet again.  An adviser to the People’s Bank of China told the China Business News that the emerging-market country should advance its position.  The adviser, Xia Bin, said, “China should realize that gold is an important strategic reserve, and should increase its holdings over the long term, buying on price dips.  In the past we have not established this as an investment principle, but now we must.”

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

  • Gold - $1,831,80 – no change.
  • Silver - $41,84 – up $0.31.
  • Platinum - $1,851.10 – down $3.00.
  • Palladium - $785.40 – up $5.70.

« 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.