Mid-Day Gold & Silver Market Report – 5/9/2011
Stephanie Chandler
5/9/2011 12:07:00 PM
SILVER HOTTER INVESTMENT AFTER DROP
Metals are moving up again after last week’s sell offs. The U.S. dollar was down this morning after its 3% rally last week with rumors that Greece might leave the European Union. These factors contributed to the lower metal prices last week, however David Morgan, founder of silver-investor.com, is still bullish for the metals. “The fundamental fact remains that you cannot print wealth as long as Federal Reserve Chairman Ben Bernanke and other central bankers in the world try to print wealth you’re going to have more and more upside for the metals,” says Morgan.
In India the interest in silver has jumped considerably since the recent correction. Shivom Seth, author at Mineweb.com says, “Silver’s price slump has done nothing but raise demand for silver in India as companies hand out silver coins as part of employee bonus packages and jewelry stores promote silver as an affordable alternative to gold.”
At 12:06 PM (CT) the APMEX precious metals prices were:
- Gold price – $1508.90 (up $15.80)
- Silver price – $37.54 (up $2.17)
- Platinum price – $1794.30 (up $6.90)
- Palladium price - $731.10 (up $12.80)
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
