Mid-Day Gold & Silver Market Report – 3/4/2011
Ryan Schwimmer
3/4/2011 12:33:00 PM
At 12:25 PM (CT) the APMEX precious metals spot prices were:
- Gold - $1,431.00
- Silver - $35.39
- Platinum - $1,839.50
- Palladium - $811.00
COMMENTARY: Gold is adding to its weekly gains this afternoon as silver is trading at a 31-year high. There seemed to be some optimism earlier over the news of 192,000 jobs being added in February, but surveys say the number was lower than expected. Investors are worried about reports of continued violence in Libya, this time in the country’s capitol, Tripoli.
Analysts from Barclays Capital say that “the metals’ safe-haven appeal is set to continue to support prices in the near term.” They added, “Silver dealers have indicated that smaller investors see silver as a more affordable alternative to gold as they look to alternative assets for wealth preservation, worried about the outlook for inflation and currency value.”
Gold spot price is up $13.60 on the day. Silver is up $1.00. Platinum is up $5.50. Palladium is down $4.80.
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
