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Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 9/15/2011


Gold and silver prices have both slipped since the Morning Commentary.  Gold has been stronger than silver, with gold only falling by about 0.1% and silver slipping by 0.8% since the Morning Commentary. 

It seems the market may be growing more comfortable with the Greek debt situation.  World leaders are working diligently to keep Greece from economic ruin, and, to prevent possible contagion from spreading, creating a plan to provide much-needed liquidity to European banks.  Traders’ confidence seems to be buoyed by the news.  Global stock indexes are rising today as investors sell some of their safe havens (like gold) to purchase riskier assets.  David Wilson, an analyst at European bank Societe Generale, told CNBC, “…[T]here must be a bit more positivity for holding riskier assets… I still think the general trend for gold is upward, but it's a saw-toothed pattern and at the moment, we're on the downside.”

Further pressuring gold prices, the Euro rose in value relative to other currencies as traders seek to capitalize on the new perception of stability in Europe.  Alan Ruskin, Global Head of G-10 FX Strategy at Deutsche Bank said in an email, “To the extent that term funding has been an important negative risk factor, the latest coordinated measures takes care of one (of many) negative risk factors.” 

At 12:00 PM (CT) the APMEX precious metals spot prices were:

  • Gold - $1,782.30 – Down $42.70
  • Silver - $39.59 – Down $0.97.
  • Platinum - $1,784.30 – Down $34.60.
  • Palladium - $728.80 – Up $3.80.

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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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