Mid-Day Commentary – 10/21/2010
Peter LaTona
10/21/2010 12:00:00 PM
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,323.30
- Silver - $23.24
- Platinum - $1,670.70
- Palladium - $590.00
COMMENTARY: The Washington Post reported this morning that the federal bailout for Fannie Mae and Freddie Mac, could more than double in size the next three years, which could cost the taxpayers as much as $215 billion dollars. The Equity Markets (which had been climbing) and the Precious Metal Markets (which was down slightly) both began to lose ground rapidly on the news. The US Dollar is now in positive territory, after beginning the day in the red. Gold is down $17 from the Morning Commentary…Silver down 50 cents…Platinum down $3…Palladium down $6.50
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
