Closing Gold & Silver Market Report – 5/6/2011
Peter LaTona
5/6/2011 4:33:00 PM
GREECE DENIES RUMORS IT MAY QUIT THE EUROPEAN UNION - Investors, this is a story that needs to be watched because if there is any truth in this, it could be devastating to the European economy. All parties involved deny that there is any truth to the story, first reported by Spiegel Online, but the truth is for now, we do not know. There are meetings scheduled tonight in Luxembourg, so we will wait for weekend updates.
Al Qaeda has confirmed that bin Laden is dead. There have been Muslim factions still in disbelief, but now that his death is accepted, they vow to mount more attacks against the West.
Heineken is rumored to be considering a bid for Brazil’s Schincariol. If you are wondering what a beer company has to do with the precious metals market, the answer is… nothing. After a week like this…after a Thursday of volatility that we very rarely ever see…a beer just sounds good!
Gold ended the day with upward momentum and crossed $1500 once again. It will be interesting to see where markets open on Sunday 5PM (CT).
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,500.70 (up $13.80)
- Silver price - $35.85 (down 61 cents)
- Platinum price - $1,791.60 (up $12.40)
- Palladium price - $717.20 (up $4.40)
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
