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Weekly Market Recap 1/24/09

1/23/2009 01:23:00 PM, Posted by APMEX, No Comment

Recession trends continue to impact Wall Street and the World Markets. With newly elected President Barack Obama now in the White House, Wall Street hopes for a fresh start. However, many reports point to a deepening recession. Concerned investors continue their interest in physical bullion as a haven from the tumultuous market. There is no time like the present to put precious metals in your portfolio and protect your financial future. A surge in the market late in the week opened the door for big gains in the precious metals market.

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

Spot Gold prices opened this week at $837.00. The high during the week was at the close of the market on Friday January 23rd, at $901.60, while the low for the week occurred on Tuesday January 20th, at $823.60. This week, concerned investors placed their hopes in 2009 1 oz Gold American Eagles, 2009 1 oz Gold Maples, 1/10th oz. Gold Maples, 1/10th oz. Gold American Eagles and 2.5 gram Gold Pamp Suisse Bars.

Spot Silver prices opened last week at $11.10. The low for silver occurred on Tuesday January 20th, 2009 at $10.92. Silver ended the week up at $12.06 at the final closing bell. 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 large movers in the market.

Spot Platinum prices opened last week at $949.00, but ended the week up at $9.64. Investors were eager to purchase Platinum, primarily securing 1 oz. Platinum Credit Suisse Bars.

Spot Palladium prices opened this week at $183.00, and ended the week up at $201.00. 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 and very limited supply.

A number of our numismatists attended the Hot Springs (Arkansas) coin show this past weekend. The buying activity level at the show was strong for all bullion-related items. Morgan Silver Dollars and Peace Silver Dollars were very much in demand. Early Lincoln Cents were aggressively priced and many dealers reported strong sales, a trend that has been continuing for the past few months. Proof and Mint Sets were very active; First Spouse Gold Coins were on many want lists.

The rare coin market is healthy but somewhat spotty; there is significant strength in many areas, but not all. Another issue that is affecting the market is the release of the Saint-Gaudens High-Relief Double Eagle Bullion coin. Many dealers and collectors are ordering as many pieces as possible and that affects the cash flow in the marketplace.

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