Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 9/20/2011


In early-morning trading, both the stock market and the precious metals market are up moderately.  The movement in the metals market is thanks to a “move to safety,” as Tom Pawlicki of MF Global says, after S&P cut Italy’s sovereign debt rating.  Perhaps speaking not just of Italy, analysts at GoldCore explained, “As long as governments cower from their responsibilities to balance their budgets and continue to print money instead of paying their bills, gold will likely appreciate in paper money terms.”

Fitch Ratings said in a report that Greece is likely to default on its sovereign debt.  Fitch had already indicated the likelihood of Greece’s default when it downgraded the Mediterranean nation’s sovereign rating to junk status.  However, Fitch also mentioned, “Concerns over the risk of a break-up of the euro zone are greatly exaggerated.”  While concerns over the break-up may be exaggerated, esteemed  economist Nouriel Roubini believes that Greece needs to both default and exit the euro.

Two days of meetings for the Federal Reserve began today, with the expectation that “Operation Twist” will be announced.  Carl Riccadonna, Senior U.S. Economist for Deutsche Bank, says, “These are tinkering measures, not the financial bazooka, so to speak.”  He goes on to explain that we’re not quite to the point where something more is required.  He said, “If we get to a period where the employment numbers turn negative—then I think there will be much more agreement on the Open Market Committee that they will have to do something bolder.”

At 12:04 pm (CT) the APMEX precious metals spot prices were:

  • Gold - $1,804.20 – Up $26.80.
  • Silver - $39.98 – Up $0.80.
  • Platinum - $1,784.80 – Up $9.80.
  • Palladium - $720.10 – Up $7.00.

« 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.