Weekly Market Recap 2/20/2009

As the American markets were closed on Monday in recognition of Presidents Day, metals prices gained a solid footing and started taking an upswing. Investors searching for a safe haven have pushed precious metals towards big gains this week. Gold spikes usually boost the other metals and this time is no exception. Now is the time for savvy investors to try and corner the market by sharply increasing their holdings. Further price gains are very possible as long as the metals continue to benefit from all the “safe-haven” buying. Hopefully the United States Stimulus package released this week will increase industrial demand which also contributes to metals gains.

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 $940.80. The high during the week was on Friday February 20 at $1007.20, while the low for the week occurred on Tuesday February 17 at $937.30. Gold ended the week up at $995.00. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1 oz. Gold Krugerrands, 1/10 oz. Gold Australian Lunars, 1/20 oz. Gold Australian Lunars and 1 oz. Pamp Suisse Gold Bars were all in high demand and moving in quantity.

Silver:
Silver prices opened last week at $13.60. Silver reached a high of $14.51 at the close of the Market on Friday February 20, while the low for silver occurred on Tuesday February 17, at $13.40. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples , 1 oz. Morgan Design Silver bars and 10 oz. Morgan Design Silver bars continue to dominate the market as investors continue to build their hoards.

Platinum:
Spot Platinum prices opened last week at $1065.10, and ended the week up at $1091.20 Investors continue to look to 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 1 oz. Credit Suisse Platinum bars as primary vehicles. APMEX has these items in stock and ready to ship - buy yours today!

Palladium:
Palladium prices opened this week at $216.50, and ended the week up slightly at $220.50. Palladium products continue to be in great demand and difficult to source and keep in stock. This week the 1 oz. and 10 oz. Pamp Suisse Palladium Bars and 100 oz. Fine Palladium Bars were hot items. Again, these bars will not last long due to popular demand.

Numismatics:
Last week’s Greater America Coin Fair, held in St. Louis, was a very active coin show. This clearly indicates that the numismatic market is showing remarkable strength. The Long Beach Coin Expo was strong and St. Louis’ strength following just a week later indicates the overall health of the coin market. Many dealers reported that “generic” gold coins (i.e., those dates which are easily obtained) were strong as were all grades of US Type coins.

Contributing to the success of this show was the weakness in the overall stock markets. As bullion prices continue to rise, many buyers are actively seeking Pre-1933 Gold Coins, and all types of Gold Bullion Coins! Gold prices are advancing toward that coveted $1,000.00 an ounce plateau and the general public is once again well aware of the inflation hedge that gold and silver coins provide. But not only bullion-related coins are rising! Pre-1933 Gold Coins are climbing in price, but, interestingly, gold commemoratives are not.