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Weekly Market Recap March 9, 2009 thru March 13, 2009

3/13/2009 02:38:00 PM, Posted by APMEX, No Comment

Experts say that investing in precious metals will remain a prominent component of the market activity. The price of gold is near an all time high, and the number of Americans who are investing in precious metals is going up, making metals harder and harder to come by. Silver will usually follow in gold’s footsteps and much of the attitude will be influenced by the value of the US dollar and other economic trends as we move into next week. The near and long term outlook remains positive. Savvy investors would be wise to continue or start purchasing metals as a hedge against the struggling markets and economy.

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

Spot Gold prices opened this week at $941.20. The high during the week was on Monday March 9th at $942.80, while the low for the week occurred on Tuesday March 10th at $891.10. Gold ended the week down slightly at $929.50. This week, 2009 1 oz Gold Philharmonics and 2009 Gold Canadian Maple Leafs were all in high demand and very difficult to find.

Spot Silver prices opened this week at $13.33. Active trading pushed spot silver to a high of $13.38 on Monday March 9th, while the low for silver occurred on Tuesday March 10th, at $12.46. Overall, silver ended the week almost where it started at $13.30. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, and 1 oz. Morgan Design Silver Bars were hot items this week and in limited supply.

Spot Platinum prices opened this week at $1079.70, but ended the week down slightly at $1067.50. 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 oz. Scotiabank Platinum bars, and 2009 1 oz. Platinum Canadian Maple Leafs. These items will not last long so purchase yours today!

Spot Palladium prices opened this week at $202.50, but ended the week down slightly at $201.80. Palladium products continue to be in great demand and very hard to come by. This week the 1 oz. Pamp Suisse Palladium Bars were very active. Again, these bars will not last long due to popular demand.

Two major numismatic events are on tap for this month on opposite coasts of the country! The American Numismatic Association’s Mid-Winter “National Money Show” in Portland, Oregon, and the Baltimore Coin & Currency Convention in Baltimore, Maryland will dictate the tenor of the coin market’s strength this month.

The demand at shows, both small and large, for bullion gold is increasing by the minute. In fact, the demand for bullion coins is strong, but many collectors and dealers alike believe that gold will reach new all-time highs during 2009.

But due to the proliferation of advice in the numismatic media, even novice collectors are buying not only bullion but also numismatic items, such as better date Morgan Silver Dollars and problem-free US Type Coins. For the last few months, we have been singing the praises of US Classic Commemorative coins. These coins are selling, on average, at about 10% of their 1989 levels. Finally, the bidders are starting to look at these coins and buy them. They may have already answered the question, “How low can they go?”

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