Morning Gold & Silver Market Report – 11/30/2010
Peter LaTona
11/30/2010 8:07:00 AM
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,386.20
- Silver price - $27.56
- Platinum price - $1,657.40
- Palladium price - $699.50
COMMENTARY: The US Dollar continues to rise in relation to the Euro, yet precious metal prices continue to go up sharply . Historically, the price of precious metals would decrease as the value of the US Dollar increases. So what is behind the breakdown in this correlation? Investors keep coming back to the traditional role of precious metals of being an insurance policy. You need the protection they offer in times of crisis, potential crisis and uncertainty. UBS is currently suggesting that their top clients hold 7-10 per cent in precious metals.
Gold spot price is up $18.70 – Silver price is up 36 cents – Platinum spot price is up - $12.80 – Palladium price is up $4.50
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
