Weekly Market Recap 4/10/2009

In this shortened market week due to the observance of Good Friday, precious metals came under some slight selling pressure. Metal prices were affected as equities were on the rise this week, due in part to residual optimism for the efforts of World Leaders to repair the battered economies.

Stocks were up around 23% overall from their March lows. Some think that moves in the markets this week could be confirmation that an economic recovery may be starting to form. However, many experts believe that our economy is still in the early stages of the bottoming process and that noticeable recovery will not be apparent until at least the 4th quarter of this year. As a result of these cautious forecasts, precious metals remain very popular among savvy investors and those looking to firm up their financial futures.

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 $898.00. The high during the week was on Monday, April 6 at $899.50, while the low for the week also occurred on April 6 at $865.00. Gold ended the week down $14.70 at $883.30. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/20 ounce Gold Maple Leafs, 2009 1/10 ounce Austrian Philharmonics, 1 gram APMEX Gold Bars, and 1 ounce Pamp Suisse Gold Bars were all very popular items at APMEX.com.

Silver:
Spot Silver prices opened this week at $12.80. The open of the silver market was the high for the week at $12.80, on Monday, April 6, while the low for silver occurred on Tuesday, April 7, at $12.02. Silver ended the week down .47 cents at $12.33. This week APMEX presented customers with a 48 Hour sale on 2009 Silver Maple Leafs, which had a great response - especially in concert with the lower silver market price. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 1 ounce APMEX Silver Rounds, 10 ounce APMEX Silver Bars, 2009 1 ounce Silver Philharmonics and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com.

Platinum:
Spot Platinum prices opened this week at $1156.10, and ended the week up at $1195.30. Platinum had a gain of $39.20 throughout the week. The most popular of platinum items were: 5 gram Credit Suisse Platinum Bars, 1 oz. Platinum Pamp Suisse Bars, and 1 oz. Scotiabank Platinum bars. These items are live and ready to ship at APMEX.com

Palladium:
Spot Palladium prices opened this week at $224.95, and ended the week up $6.15 at $231.10. Palladium products continue to be in great demand. This week the 1 oz. Pamp Suisse Palladium Bars and 10 ounce Pamp Suisse Palladium Bars were in high demand. APMEX has these items available for purchase on delayed delivery only.

Numismatics:
The list of 2009 successful coin shows continues to grow and grow. From the FUN show during the 1st week of January to the recently completed show in Santa Clara, all of the major coin shows have been well-attended, and the activity level has been brisk! This continues to bode well for collectors, investors and dealers alike!

The very recent price decline in the spot price of gold has had the effect of lowering the premiums a bit on Pre-1933 US Gold Coins. With these lowered premiums has come increased demand for these coins. Additionally, Proof and Mint set activity is very strong with demand, not only for the older silver sets, but for more recent issues as well.

And while we never like to say “I Told You So,” it is with much pleasure that we note that the U. S. Classic Commemorative Coin Series has advancing issue bids beating declining issues by a 4 to 1 ratio! We have been saying for the last 4 months that these issues were undervalued and now the market has started to realize that as well!