GOLD AND SILVER REPORT 12/8/2010

APMEX Closing Gold & Silver Market Report – 12/8/2010 
By Eli Hamilton December 8, 2010

At 4PM (CST) the APMEX precious metals prices were:
Gold price – $1,382.80
Silver price – $28.41
Platinum price - $1,686.70
Palladium price - $727.40



COMMENTARY: As was discussed in the Mid-Day Commentary, profit-taking and fears of Chinese interest rate increases have driven the prices of most commodities down. These key macroeconomic reports are now to be released on Saturday, two days earlier than the original schedule. Staying in Asia, Korean tensions may push gold to new highs before the end of the year. If gold goes up, the other precious metals usually follow.

CNBC.com made predictions for 2011:
Platinum and palladium increase as investors move to ETFs
Gold and silver will reach new highs early in 2011. Gold will be moved by ETFs and bank buying. Silver will be driven by industrial demand.

If you agree with these predictions, here are some gold and silver products.

Gold price is down $26.20 – Silver spot price is down $1.37 – Platinum price is down $19.50 – Palladium spot price is down $11.30Return to Commentaries

DISCLAIMER:

APMEX’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. 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 "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.