Morning Gold & Silver Market Report – 11/17/2010
Peter LaTona
11/17/2010 8:05:00 AM
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,340.40
- Silver price - $25.60
- Platinum price - $1,638.70
- Palladium price - $653.10
COMMENTARY: There has been a slight rebound from yesterday’s losses, but there could be continued selling pressure today. Germany’s reluctance to jump right into another bail out, without forming new bail out rules, brings more fear and uncertainty into the market. Fear and uncertainty drive the Euro dollar down and by default the US Dollar up. This gives temporary relief to the concerns that the Fed QE2 would drive the US Dollar down. Most analysts say it still will, but not until the European situation stabilizes the value of the Euro. Markets will tend down as the dollar goes up.
Gold spot price is up 70 cents – Silver price up 31 cents – Platinum spot price is off $7.00 – Palladium price up $5.30
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
