Mid–Day Gold & Silver Market Report – May 2, 2011
Peter LaTona
5/2/2011 11:50:00 AM
BIN LADEN MARKET BOUNCE MAY BE SHORT LIVED - As expected, US stock futures as well as the US dollar bounced up on the news of the death of bin Laden. However, the dollar has already begun to retreat to negative territory, while stocks hold on to small gains. Osama bin Laden’s death is viewed as a positive for the US...and the world…but will it significantly affect the markets?
Gold, silver, platinum and palladium are all recovering from the dips proceeding last night’s announcement. Oil is also rebounding as the enthusiasm wears off and reality sets in. There may be one less risk in the world, but it is still only one man.Militant Islamic Extremist are already vowing that bin Laden’s death will not mute the Jihad call. The world is on high alert for any potential acts of repercussion.
At 12PM (CT) the APMEX precious metal prices were:
- Gold price -$1,564.70 (up $6.80)
- Silver price - $46.64 (down $2.01)
- Platinum price - $1,881.00 (up $14.50)
- Palladium price - $787.10 (down $7.00)
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
