Morning Gold & Silver Market Report – 12/20/2010
Peter LaTona
12/20/2010 8:16:00 AM
At 8AM the APMEX precious metal prices were:
- Gold price -$1,386.40
- Silver price – $29.28
- Platinum price – $1,708.60
- Palladium price – $750.00
COMMENTARY: Gold spot price is up $6.70 in early morning trading – Silver price is up 14 cents – Platinum price is up $9.10 – Palladium price is up $10.30
Currency concerns and geopolitical tensions are driving precious metal prices up. Overseas, investors continue to move to gold as the euro continues to slump. Over the weekend, Adm Mike Mullen, Chairman of the Joint Chiefs of Staff, made it clear that the US takes their commitment to the security of the Middle East very seriously. The US is “very ready” to counter Iran on nukes. The Korean tensions had been building for several days, but did find some relief when North Korean backed down their threats to respond to weapons test by South Korea. The world waits to see what will happen during today’s tests.
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
