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Closing Silver and Gold Prices

Closing Gold and Silver Market Report – 1/11/2011
By Timothy Oakes  January 11, 2011

At 4 PM (CT) the APMEX precious metals prices were:

Gold price - $1,382.30
Silver price - $29.56
Platinum price - $1,771.30
Palladium price - $786.00

COMMENTARY: The stock market looks to have found some higher ground for the day as the earnings season’s optimism is buoyed by the news of Japan buying part of the European debt along with China. However the concerns over Portugal and a potential European Union bailout are causing investors to retreat to the safe haven appeal of gold. “Where you have governments that are overindebted and need to get themselves out of that problem ... they can try to inflate their way out of difficulty, which is where you'd want to be holding gold instead, or can go down a route of fiscal retrenchment," said Natixis commodities analyst Nic Brown.

Gold spot price is up $7.20 - silver price is up 68 cents – platinum price is up $28.20 – palladium is up $35.40

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