Mid-Day Commentary – 10/15/2010
Mike Garofalo
10/15/2010 12:01:00 PM
At 12PM (CT) the APMEX spot prices were:
- Gold - $1,373.30
- Silver - $24.42
- Platinum - $1,699.00
- Palladium - $592.30
COMMENTARY – Precious Metal prices are still higher than they were at the Morning Commentary but are trending weaker as we hit mid-day. Fed Chairman Ben Bernanke spoke in Boston this morning and stated that there “would appear to be a case for further action.” The markets interpreted that this would mean expanded asset purchases by the Fed. This seemed to move Precious Metal prices upwards. But profit-taking and stronger than expected September US retail sales scuttled any further morning rally in Precious Metal markets.
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
