Closing Gold & Silver Market Report – 11/16/2010
Peter LaTona
11/16/2010 4:22:00 PM
At 4PM (CT) the APMEX precious metal prices were:
- Gold price – $1,340.50
- Silver price - $25.51
- Platinum price - $1,642.90
- Palladium price -$644.30
COMMENTARY: While Ireland and Greece contributed to the commodity sell off, it is the news out of China driving prices down…and down went commodities and with them precious metals. Gold spot price was off $29.50 – Silver price down $64 cents – Platinum price off $42.90 – Palladium spot price down $39.00
Contrary to today’s trading activity, Johnson Matthey stated today that they believe palladium is set to rise by 25%. This is based on concerns that the Russian State commodity stockpiles are dwindling. A great way to invest in palladium is with palladium bars.
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
