Weekly Market Recap - 11/14/08

A week after the presidential election, the stock market is still showing some pretty unstable numbers. However, there has still been a lot of action in the stock market. Throughout the week we’ve seen the price of precious metals fluctuate.

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.

Gold:
Spot Gold prices opened this week at $739.00. The high during the week was $768.00 on Monday November 10th, while the lowest point occurred on Thursday November 13th at $698.20. Overall, gold ended the week at $745.00. Gold American Eagles, Maple Leafs and Gold Bars were all in great demand and short supply.

Silver:
Spot Silver prices opened last week at $10.06. Active trading pushed spot silver to a high of $10.53 on Monday, November 10th. The low for silver occurred on Thursday, November 13th at $8.77. Overall, silver ended the week down, at $9.60. Silver American Eagles were in great demand and we received a significant shipment of 2008 Silver American Eagles. With the arrival of the 2009 SAE’s fast approaching, now’s a great time to purchase the 2008 Silver Eagles and take advantage of the low prices. Other popular items available to silver enthusiasts include:

• Silver Maple Leafs
• Buffalo Silver Rounds
• 100 oz Silver bars

Platinum:
Spot Platinum prices opened last week at $864.80. Overall, platinum ended the week down at $850.00. Products such as 2008 ¼ & 1/10 Platinum American Eagles were highly desired.

Palladium:
Spot Palladium prices opened this week at $225.00. Overall, palladium ended the week down at $224.00. Palladium Pamp Suisse 1 oz Bars were in great demand. Availability is limited, but we currently do have bars in stock and ready to ship.

Numismatics:
The numismatic market continued its aggressive upward movement this week with numerous sectors showing strong growth. The demand for Pre-1933 US gold is exceedingly strong in virtually all grades. But the supply of these coins is strong and adequate for the current demand. Morgan silver dollars are strong, especially in very high grades, but Peace silver dollar issues are quiet at current levels. Type coins are extremely strong and problem-free specimens are eagerly sought by many buyers. Classic commemorative coin prices are mixed with several issues being up but a like number of more common issues are down. Proof and Mint Sets are showing great strength at current levels as they generally do during the Holiday season.