Mid-Day Gold & Silver Market Report – 1/27/2011
Timothy Oakes
1/27/2011 12:05:00 PM
At 12 PM (CT) the APMEX precious metal prices were:
- Gold price: $1,322.50
- Silver price: $27.13
- Platinum price: $1,801.00
- Palladium price: $813.40
COMMENTARY: Precious metals are definitely on the move today, as the initial positive economic data and potential increases in global interest rates had tempered the safe haven appeal of gold. However, the news regarding jobless benefits claims increasing has seemed to be a factor in the slowdown of the initial price drop of precious metals, with the prices of platinum and palladium gaining for the day. Analysts are still predicting a northward direction for gold based on data coming within the next couple of weeks about the true strengthening of the U.S. economy.
Gold spot price is down $12.00 – Silver is down 6 cents – Platinum spot price is up $5.10 – Palladium price is up $7.80
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
