Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 11/16/2011


Precious metals prices have remained relatively steady since the Morning Gold & Silver Market Report. Global markets are taking a wait-and-see approach based on current European volatility, with Spanish bond yields also approaching uncomfortable limits. The global uncertainty “underscores the renewed confidence in the Gold market,” said Walter de Wet, a precious metals analyst with Standard Bank. He added, “Our strategic view remains unchanged: Gold will push higher in 2012 with a target of $2,000 in the first quarter of 2012.

Italy and Greece have been in the news a lot recently, mostly for austerity measures and changes in political leadership. Another country has slipped quietly under the radar for a bit; that country is Spain. Spain is the fourth-highest ranked country in the European Union. Spain is set to have a change in political leadership, and there is growing concern that much information may be hidden. The People’s Party is expected to win the majority decision in next week’s election. Alistair Newton, senior political analyst at Nomura, said, “What's likely to happen is that the People's Party take(s) control and say(s), ‘Oh my God, we have looked at the books, and it's much worse than we thought.’ There is a huge degree of uncertainty over how high it will be.” However, Newton said he fully expects the People’s Party to be “fully on board with the International Monetary Fund, Berlin and the European Central Bank.”

Former EU Commissioner Mario Monti accepted the post of prime minister in Italy. At a news conference today, Monti said, “We have received a lot of encouragement from our European partners and international authorities. … I hope this translates into a calming of the markets, especially regarding the tensions facing our country.” Meanwhile, France and Germany continue to clash over the European Central Bank’s role in fighting the debt crisis. France is looking for a Fed-like easing, while Germany opposes such a role by the ECB.

At 12:06 p.m. (CST), the APMEX precious metals prices were:

  • Gold price - $1,772.90 – Down $11.30.
  • Silver price - $33.94 – Down $0.56.
  • Platinum price - $1,630.50 – Down $12.20.
  • Palladium price - $655.60 – Down $13.40.

« 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.