Daily Bullion Market Update 11/07/11

By Barry Stuppler – MintStateGold.com

GOLD

Up Up and away….We have gold up $37.10 per ounce at 11am PDT, trading at $1,791 per ounce on very active trading. German newspapers reported over the weekend that leaders at the Group of 20 Summit in Cannes, France, had floated the idea that the Bundesbank’s gold reserves could be used to underpin the European Financial Stability Facility. That plan was quickly rejected by senior German officials.

SILVER

Finally back to $35.00 per ounce, trading up $0.87 at 11am PDT on excellent volume. The gold to silver price ratio has gone up to 51 ounces of Silver being equal to 1 ounce of Gold.

PLATINUM

At a $125 discount to gold, platinum looks very attractive. When the Eurozone gets their act together, this discount will disappear. So, if you haven’t already added Platinum to your precious metal investment holding I would recommend doing it now. The best trading platinum investment product is the 1 ounce .999 Australian Platypus, which trades at a low premium.

Posted in: Bullion & Metals

About the Author:

Barry Stuppler & Co. offers a great selection of gold and silver, rare and investment quality coins to our valued clients. As the current elected president of the 30,000 member American Numismatic Association (ANA) and the president of the California Coin and Bullion Merchants Association (CCBMA), Barry Stuppler brings expertise and integrity to the numismatic trade.

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