Weekly Market Recap 3/27/2009

The United States Government’s plan to rid banks of lethal assets has precious metals investors speculating that the economy and lending groups may be reviving. The news of this plan ignited the biggest rally in stocks since November of 2008 as the Dow Jones gained nearly 500 points early in the week; however, many of these stocks gave up some of their gains by midweek. Overall, the precious metals outlook continues to be good as investors are still very bullish on commodities. If anything, this recession has clearly demonstrated to the world that possessing physical precious metal in your investment portfolio is a must have!

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.

Gold:
Spot Gold prices opened this week at $950.50. The high during the week was on Monday, March 23 at $958.10, while the low for the week occurred on Wednesday, March 25 at $916.00. Gold ended the week down $33.40 at $924.70. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/10 oz. Gold Maple Leafs, 2009 1 oz Austrian Philharmonics and 1 gram APMEX gold bars were all very popular items at APMEX.com.

Silver:
Spot Silver prices opened the week at $13.74. Active trading pushed silver to a return high of $13.74 on Thursday, March 26 after the lowest point of the week on Wednesday, March 25 when prices dipped to $12.95. At the markets close on Friday, March 27, silver ended the week down $0.37 for the week at $13.37. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 1 oz Silver Canadian Maples, and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com.

Platinum:
Spot Platinum prices opened this week at $1117.00, and ended the week up at $1130.00. Platinum had a gain of $13.00 throughout the week. Investors were eager to purchase Platinum products this week. The most popular of these items were 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 1/4 oz Platinum Eagles. These items are live and ready to ship at APMEX.com.

Palladium:
Spot Palladium prices opened this week at $208.50, and ended the week up $16.50 at $225.00. Palladium products continue to be in great demand. This week the 1 oz. Pamp Suisse Palladium Bars, and 10 oz Pamp Suisse Bars were in high demand and APMEX has them in stock and ready for purchase.

Numismatics:
We are here at the Whitman Coin & Collectibles Convention in Baltimore, Maryland which runs from March 26th through 28th. Although the weather outside may be cold and rainy, the activity inside the show is outstanding! Those of us from APMEX are aggressively buying precious metals, coins and currency in all areas. After the first full day (Thursday) we can honestly say that many areas of the marketplace are strong.

During a brief lull in the action on the Bourse Floor, Mike was able to snap a quick picture of Nathan and Robyn, both enjoying the turnout at the Baltimore Coin Show (right).

We are aggressively buying all Pre-1933 US Gold Coins, as well as all types of Gold Bullion coin. We have purchased numerous lots of Obsolete Currency, Large Size currency, Early Proof Sets, Morgan Silver Dollars and much more!