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Weekly Market Recap 2/6/2009

2/06/2009 02:38:00 PM, Posted by APMEX, No Comment

The ongoing economic slowdown and slide in dollar value is driving investors to focus primarily on precious metals. We are seeing gold appreciate against all currencies. Silver has been tracking gold and has risen to highs unseen since October 2008. Analysts said as the economic stimulus plans and lower interest rate policies went on, inflation will be inevitable in the long run, which made precious metals even more attractive as a risk hedge and protection of wealth.

This week APMEX highlighted a variety of silver products in the “Sweetheart Silver Sale”, which had a great response as customers were able to take advantage of great pricing on a wide variety of silver products.

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 $927.00. The high during the week was on Monday February 2 at $929.00, while the low for the week occurred on Tuesday February 3 at $890.30. Gold ended the week down overall at $913.40. This week, 2009 1 oz Gold American Eagles, 2009 1 oz Gold Maples, 1/10th oz. Gold Maples, 5 gram Pamp Suisse Bars and 1/10 oz. and 1/20 oz. Fractional Australian Gold Lunar and Kangaroos were all in high demand with investors.

Spot Silver prices opened last week at $12.65. Silver's high for the week was $13.20 at the close of trading on Friday February 6, 2009. The low for silver occurred on Tuesday February 3, at $12.13. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, moved fast in online trading due in part to the APMEX “Silver Sweet Heart” sale. This email announced sale received a great response and customers were able to pick up large volumes of silver at great prices. Be sure you are receiving APMEX blast emails to get advanced notice of these sales.

Spot Platinum prices opened last week at $996.00, and ended the week up at $1010.00. APMEX has 1 oz. Platinum Credit Suisse Bars that are on a slight delay but are expected to ship by February 23, 2009 or sooner. These items are getting harder to find so purchase yours today!

Spot Palladium prices opened this week at $193.30, and ended the week up at $219.95. 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.

As dealers head to the Golden State to attend the Long Beach Coin Expo, the market looks much more positive than it has it recent weeks. While the metals prices are up, gold and silver coins are responding in kind. Gold seems to be very popular in all grades and in all denominations! Pre-1933 Gold Coins are on every dealer’s want lists. They are actively being purchased and sold by a wide number of dealers. Finally, Morgan Silver Dollars have taken a little breather. Generic Morgans are a tad softer and most rare dates Morgans are stable.

Type coins were stable last week, but are in demand this week. Early (1936 to 1950) Proof and Mint sets are leading this entire segment of the market. Their popularity is directly due to their very limited mintages and the fact that fresh deals of Proof Sets are seldom encountered. The early series of Classic Commemorative Coins have retreated further in price.

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