Call Us: 800.375.9006

Free Shipping on Orders Over $99



Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 11/22/2011


Gold has steadily gained in morning trading, thanks to the U.S. economy taking hits from the third-quarter growth rate being revised downward and the failure of the congressional Super Committee to come to an agreement on reducing the budget deficit. Sterling Smith, an analyst at Country Hedging Inc., said, “The uncertainty around the budget-deficit talks is positive for gold in the long run. We have seen an increase in physical interest.” Investors seem to be seeking out the safe-haven appeal gold shows in times of economic distress.

After news spread that the Super Committee would not be agreeing on a deal to reduce the federal budget deficit, Fitch Ratings said it was likely the outlook for the U.S. credit rating would be changed to “negative.” Credit ratings aren’t the only things that are cloudy, as the automatic spending cuts that will take place could leave millions of Americans with higher taxes on payroll or without unemployment checks. These are key factors to U.S. growth, and both are set to expire at the end of 2011.

The collapse of MF Global Holdings was a big story because the fall was directly related to the economic troubles in Europe. Now, the estimate of short customer funds has nearly doubled, sitting at about $1.2 billion. Customers at MF Global may see an ironic circle in all of this, as the company was upended by the haircut forced upon investors in Greek debt, and that haircut may end up forced onto the customers, as well. Tom Ward, a retired Chicago Board of Trade member, said, “I’m flabbergasted. The bottom line is, there’s going to be a haircut involved. It’s devastating, what this has done to the industry.”

At noon (CST), the APMEX precious metals spot prices were:

  • Gold - $1,704.90 – Up $24.30.
  • Silver - $32.97 – Up $1.80.
  • Platinum - $1,570.00 – Up $26.20.
  • Palladium - $602.40 – Up $14.60.

« 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.