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Our Daily
Market Reports

Mid-Day Gold & Silver Market Report – 1/10/2012


Gold and Silver prices were off to a quick start and maintained their upbeat trend throughout this morning. The stock market is well off its high for the day but is still setting up to have a good day. The dollar continues to weaken, which could allow this favorable trend for Gold and Silver to continue.

Greece is back on the front burner as hedge funds are not willing to accept International Monetary Fund (IMF) proposals to bring Greek debt down to affordable levels. The hedge funds would prefer one of two things:

1. Let Greece go bankrupt; when Greece goes bankrupt, the hedge funds will be covered by the credit insurance they bought to protect against loss.

2. Get others involved and force the issue so that the funds get paid in full without any type of haircut.

It is a dangerous game being played by two parties with completely different interests. The hedge funds must focus on what is best for their clients, and the IMF is trying to fix an entire European sovereign debt problem.

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

  • Gold - $1,634.20 – Up $25.10.
  • Silver - $29.98 – Up $1.12.
  • Platinum - $1,465.00 – Up $36.40.
  • Palladium - $638.00 – Up $19.10.

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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.

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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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