The fear is that the new heavy government spending and rock bottom short term interest rates could devalue the dollar. If the general public loses faith in paper currency, the natural beneficiaries are precious metals. Now is the time to protect your assets and buy precious metals as a hedge against this uncertain economy.
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 $913.40. The high during the week was on Thursday February 12 at $954.00, while the low for the week occurred on Wednesday February 11 at $912.00. Gold ended the week up at $943.80. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/10 oz. Gold Canadian Maple Leafs, 1 oz. Pamp Suisse Gold Bars, and 5gm Pamp Suisse Gold Bars were all in high demand.
Silver: Spot Silver prices opened last week at $13.11. Active trading pushed spot silver to a high of $13.77 at the close of the market on Friday February 13th, 2009. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples and 2009 1 oz. Austrian Silver Philharmonics were hot this week as staple precious metal items.
Platinum: Spot Platinum prices opened last week at $1001.00, but ended the week up at $1074.00. Investors were eager to purchase Platinum, though the scarce supply made it difficult to acquire this metal. APMEX has 1 oz. Platinum Pamp Suisse Bars, 1 gm Credit Suisse Platinum Bars, and 5 gm Credit Suisse Platinum Bars. These items will not last long so purchase yours today!
Palladium: Spot Palladium prices opened this week at $213.60, but ended the week up at $221.65. 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 Long Beach Coin Expo, which is held three times a year, was a stronger show for many dealers, than was the annual Florida United Numismatists (FUN) show in January. That is generally not the case with a show held three times a year! But Long Beach has a history of being a bellwether show. The coin markets have demonstrated both “Bull” and “Bear” characteristics at this particular show over the years.
The strongest items at this show were Pre-1933 Gold Coins, choice problem-free Type Coins, and all Gold Bullion Coins! Bullion prices have kept Pre-1933 Gold Coin prices strong and with Gold pushing higher over $900.00 an ounce, the demand has increased at all levels.
