Precious Metals fell early in the week as the United States Dollar grew stronger, and dropping commodity costs reduced demand as a hedge against inflation. As precious metals fluctuated a bit this week they had a mid-week surge after the U.S. retail sales reported the largest slump in at least 16 years. Many experts predict the deepening of the recession due to continued reports like Retail Sales.
Overall the bearish market trend continues and any rally in metals prices could be short lived unless we see a substantial change in the overall global economic scenario. Gold and other precious metals (often seen as a secure store of value in times of turmoil) is benefiting from the fear triggered by poor economic data and bad news from banks that has raised the prospect of a prolonged recession. If you still are on the fence, now is the time to make the move towards the metals market while spot prices are still historically low and preparing for possible strong future surge.
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 $856.10. The high during the week was on Monday January 12th at $857.50, while the low for the week occurred on Thursday January 15th at $801.50. Gold ended the week down at $845.10. This week, 2009 1 oz Gold American Eagles, 2009 1 oz Gold Maples, 2008/9 1 oz. Gold Krugerrands and gold bars were on investors' minds.
Silver:
Spot Silver prices opened this week at $11.27. Active trading pushed spot silver to a high of $11.38 on Friday January 16th, 2009. The low for silver also occurred on Thursday the 15th at $10.32. Silver ended the week up slightly at $11.38. 1 oz. Silver Maple 2010 Vancouver Winter Olympic Commemorative Coins, 1 oz Silver Buffalo Rounds, 2009 Silver Maple Leafs , and 2009 Silver American Eagles were very hot this week. In general, investors nationwide were quickly picking up silver products.
Platinum:
Spot Platinum prices opened this week at $1009.90, but ended the week down at $960.00 Investors were eager to purchase Platinum, though the supplies were very limited. APMEX has 1 oz. Platinum Credit Suisse Bars and 1 gram Platinum Credit Suisse Bars ready to ship! These items will not last long so purchase yours today!
Palladium:
Spot Palladium prices opened this week at $191.90, but ended the week down jus a little at $191.35. Palladium products continue to be in great demand and very hard to come by. This week the 1 oz. and 10 oz. Pamp Suisse Palladium Bars were hot items. Again, these bars will not last long due to popular demand.
Numismatics:
The Florida United Numismatists (F.U.N.) show in Florida proved that rare coins are in demand regardless of the economic situation. The auctions garnered over $62,000,000.00 in prices realized! While the market showed some weaknesses in a few areas - many were strong – some were white hot. Leading the charge were early Lincoln cents, rolls of Lincoln cents, modern commemorative gold and silver coins, and early Proof and Mint Sets.
Some of the APMEX numismatists will be attending the Hot Springs (Arkansas) Coin Show this weekend. We will be at this show looking for great coins and currency to purchase for our clients. We will report to you next week about our experiences at the show and tell you what was hot and what was not!
Overall the bearish market trend continues and any rally in metals prices could be short lived unless we see a substantial change in the overall global economic scenario. Gold and other precious metals (often seen as a secure store of value in times of turmoil) is benefiting from the fear triggered by poor economic data and bad news from banks that has raised the prospect of a prolonged recession. If you still are on the fence, now is the time to make the move towards the metals market while spot prices are still historically low and preparing for possible strong future surge.
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 $856.10. The high during the week was on Monday January 12th at $857.50, while the low for the week occurred on Thursday January 15th at $801.50. Gold ended the week down at $845.10. This week, 2009 1 oz Gold American Eagles, 2009 1 oz Gold Maples, 2008/9 1 oz. Gold Krugerrands and gold bars were on investors' minds.
Silver: Spot Silver prices opened this week at $11.27. Active trading pushed spot silver to a high of $11.38 on Friday January 16th, 2009. The low for silver also occurred on Thursday the 15th at $10.32. Silver ended the week up slightly at $11.38. 1 oz. Silver Maple 2010 Vancouver Winter Olympic Commemorative Coins, 1 oz Silver Buffalo Rounds, 2009 Silver Maple Leafs , and 2009 Silver American Eagles were very hot this week. In general, investors nationwide were quickly picking up silver products.
Platinum: Spot Platinum prices opened this week at $1009.90, but ended the week down at $960.00 Investors were eager to purchase Platinum, though the supplies were very limited. APMEX has 1 oz. Platinum Credit Suisse Bars and 1 gram Platinum Credit Suisse Bars ready to ship! These items will not last long so purchase yours today!
Palladium: Spot Palladium prices opened this week at $191.90, but ended the week down jus a little at $191.35. Palladium products continue to be in great demand and very hard to come by. This week the 1 oz. and 10 oz. Pamp Suisse Palladium Bars were hot items. Again, these bars will not last long due to popular demand.
Numismatics:The Florida United Numismatists (F.U.N.) show in Florida proved that rare coins are in demand regardless of the economic situation. The auctions garnered over $62,000,000.00 in prices realized! While the market showed some weaknesses in a few areas - many were strong – some were white hot. Leading the charge were early Lincoln cents, rolls of Lincoln cents, modern commemorative gold and silver coins, and early Proof and Mint Sets.
Some of the APMEX numismatists will be attending the Hot Springs (Arkansas) Coin Show this weekend. We will be at this show looking for great coins and currency to purchase for our clients. We will report to you next week about our experiences at the show and tell you what was hot and what was not!
