Closing Gold & Silver Market Report – 12/9/2010
Peter LaTona
12/9/2010 4:12:00 PM
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,388.30
- Silver price - $28.78
- Platinum price - $1,680.50
- Palladium price - $739.00
COMMENTARY: PIMCO CEO Mohamed El-Erian began using the term “new normal” almost two years ago to describe the changed state of the world economy after the worst recession since the great Depression. Under this “new normal” the US will continue to confront sluggish growth and high unemployment for years to come. Despite this forward view, PIMCO cannot ignore the massive amount of stimulus poured into the market, so they have raised US growth forecasts.
Precious metal prices settled down in afternoon trading. Gold spot price was up $5.10 – Silver price was up 53 cents – Platinum stayed lower at off $1.90 – Palladium spot was up $10.10
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
