Mid-Day Gold & Silver Market Report – 1/28/2011
Ryan Schwimmer
1/28/2011 12:01:00 PM
At 12PM (CT) the APMEX precious metal spot prices were:
- Gold – $1,344.50
- Silver – $28.03
- Platinum – $1,804.70
- Palladium – $820.10
COMMENTARY: Gold and silver are turning their early morning losses into decent gains. The unrest over the situation in Egypt seems to be supporting the safe haven appeal of precious metals, while driving stock prices down. Earlier, we mentioned that the economy grew slightly less than expected. A gauge of consumer sentiment dipped by .3% on concerns about rising food and fuel prices. Kevin Werr says that “Gold and many other commodities are feeling some impact right now from nervous investors.” This is the biggest jump in 12 weeks for gold.
Gold spot price is up $24.20 on the day. Silver spot price is up 93 cents. Platinum spot price is up $1.20. Palladium spot price is up $4.60.
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
