Mid-Day Gold & Silver Market Report – 3/14/2011
Ryan Schwimmer
3/14/2011 12:10:00 PM
At 12PM (CT) the APMEX precious metals spot prices were:
- Gold – $1,425.50 | +$2.70
- Silver – $35.99 | -$0.02
- Platinum – $1,753.00 | -$29.70
- Palladium – $750.20 | -$16.30
COMMENTARY: Gold and silver have remained relatively flat today, while platinum and palladium are down on concerns over the automobile industry. The safe-haven demand for gold and silver is still there, Phil Streible of Lind-Waldock reports (video). However, Japan is selling gold and converting it to cash in the wake of the recent disaster. Continuing the recent trend of push-and-pull on gold prices, we see the sell-off in Japan pressuring prices downward, whereas the safe-haven demand pressures it upward. Stocks are down (upward pressure on gold), but so is oil, which may ease inflation concerns (downward pressure on gold).
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
