Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 10/21/2011


The course of precious metals prices since the Morning Gold & Silver Market Report, has seen some volatility but prices are still up for the day. The Greek bailout is still dominating the global economic landscape, as Germany and France have taken strong stances on how to resolve Greek debt crisis. A popular sentiment among investors is that the Greek debt crisis is actually overshadowing a relatively strong earnings session on Wall Street. “There is nothing in this earnings season so far that supports a U.S. recession,” said Michael Murphy, Managing Partner at hedge fund Rosecliff Capital. “Although the European headlines are making for a wild ride, let’s remember the market is cyclical and this European financial crisis will pass. We are a lot closer to the end than we are to the beginning.”

The looming stand off between France and Germany has actually caused an additional summit day to be incorporated. Instead of just this Sunday, an additional day has been added later in the week, Wednesday. President Obama hopes a resolution is reached by the time the next G20 summit takes place in France November 3-4. France seems to be isolated from other EU members during a crucial time, with France wanting the European Financial Stability Facility (EFSF) to act more like a bank to help the European Central Bank (ECB) contain a potentially large European debt crisis. However, German Chancellor Angela Merkel has said, “The path is closed for using the ECB to ease liquidity problems.” German Finance Minister Wolfgang Schaeuble reiterated that point by saying, "We will stick to the situation as it is in the treaty that the central bank is not available for state financing."

The impact to gold has investors looking to be on board, as gold rose 1% and is in-line for its biggest gain in almost two weeks. "It's not surprising to see buyers begin to step in here out of concern that they would miss an opportunity for another (rally)," said Mark Luschini, Chief Investment Strategist at broker-dealer Janney Montgomery Scott. He also said, "I expect to see gold doing better from here.”

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

  • Gold - $1,637.10 – Up $22.20.
  • Silver - $31.01 – Up $0.69.
  • Platinum - $1,508.30 – Up $17.90.
  • Palladium - $619.30 – Up $32.90.

« 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.