Closing Gold & Silver Market Report – 3/22/2011
Ryan Schwimmer
3/22/2011 4:13:00 PM
At 4PM (CT) the APMEX precious metals spot prices were:
- Gold – $1,429.10
- Silver – $36.44
- Platinum – $1,741.00
- Palladium – $739.50
COMMENTARY: Gold remained relatively flat today, “partly due to the anxiety of some financial players regarding higher interest rates in Europe, tightening in China, Asia, and other parts of the world,” says James Dailey of the TEAM Asset Strategy Fund. Supporting the safe-haven demand of gold are the usual suspects of late – air strikes on Libya, political unrest in other Arab countries, and the nuclear crisis in Japan (which is possibly worse than originally feared). In lighter news, Venezuelan president Hugo Chavez also warns us that capitalism is responsible for the end of life on Mars, and is also the reason for many of the world’s problems. Silver rose over 1% today to a 31-year high, and some investors believe that it may be ready to “breakout.” The U.S. dollar index is hovering near 4-1/2 month lows against the euro.
Gold spot price is up $1.70 on the day. Silver is up $0.37. Platinum is down $4.90. Palladium is down $3.90.
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
