Mid – Day Commentary – 10/20/2010
Peter LaTona
10/20/2010 12:01:00 PM
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,347.40
- Silver - $23.89
- Platinum - $1,686.50
- Palladium - $592.50
COMMENTARY: The Atlanta Fed President, Dennis Lockhart, indicated that further monetary stimulus might take the form of 100 million dollars per month bond buys. In a CNBC interview he stated, “if we are going to pursue another round of quantitative easing, it has to be a large enough number to make a difference.” By virtue of putting an actual number on the possible QE, it would indicate that there have been discussions, and that the easing could be significant. Metals markets react positively to this news and drift upwards throughout the morning.Gold up $10 –Silver up 22 cents – Platinum up $14.50 – Palladium up $11.
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
