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Our Daily
Market Reports

Mid-Day Gold & Silver Commentary – 10/3/2011

Gold and silver prices are virtually unchanged since the Morning Commentary

Despite predictions that Greece will be able to implement the austerity measures required for the next tranche of aid, euro zone countries are close to reaching an agreement meeting Finland’s demands for collateral against its loans to Greece.  In exchange for receiving collateral against the loan, Finland will likely receive reduced interest on the loan, and may even have to pay a penalty.  Finland has a strong undercurrent that opposes the Euro, as well as bailouts for other Euro countries.

The Economic Cycle Research Institute – an organization dedicated to determining the beginnings and ends of recessions - has released some pessimistic predictions about the future of the economy.  Many of their indicators are pointing towards “full-blown recessions.”  They are also predicting an era of higher volatility and more frequent recessions, with shorter expansion periods in between.

At 12:07 pm (CT) the APMEX precious metals prices were:

· Gold price - $1,661.40 – up $37.00.

· Silver price - $30.87 – up $0.75.

· Platinum price - $1,510.10 – down $12.30.

· Palladium price - $594.50 – down $22.10.

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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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