Morning Gold & Silver Market Report – 3/8/2011
Peter LaTona
3/8/2011 8:02:00 AM
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,436.30
- Silver price - $36.32
- Platinum price - $1,809.00
- Palladium price - $782.00
COMMENTARY: The gold price to silver price ratio has historically run in the range of 57:1. Today, this ratio is below 40:1. Does this tell us that silver is too high; is gold too low; or will they both continue to climb?
Libyan rebel forces have given Muammar Gaddafi 72 hours to quit. If he steps down within this time frame they say they will not pursue him for crimes. This announcement has placed the precious metals and equity markets on hold with little up or down indications.
Gold spot price is currently up 80 cents – Silver price is up 38 cents -Platinum price is down $12.40 – Palladium price is down $9.10
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
