Weekly Market Recap 4/24/09

Metal trading was relatively quiet this week as investors eagerly awaited news that might give the market a definite direction. However, a clear direction never fully materialized. Overall the equities market has been inching its way higher while playing tug of war between a bull and bear environment. The widely volatile equity market, declining oil prices and further weakening of the dollar continues to fuel fears that economic turmoil and inflation risks are still on the horizon. Precious metals continue to provide a safe haven for concerned investors.

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 $870.20. The high during the week was at the close of the market on Friday April 24, at $915.00, while the low for the week occurred on Monday, April 20 at $865.60. Gold ended the week up $44.80 at $915.00. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian 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 last week at $11.85. Active trading pushed spot silver to a high of $12.97, at the close of the markets on Friday, April 24, while the low for silver occurred also occurred on Monday, April 20, at $11.72. Silver ended the week up $1.12 at $12.97. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 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 last week at $1,210.50, and ended the week down at $1,183.00. Platinum had a loss of $27.50 through the week. Investors were eager to purchase Platinum products this week. The most popular of these items were: 5 gram Credit Suisse Platinum Bars, 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 2009 1 oz. Platinum Canadian Maple Leafs.

Palladium:
Spot Palladium prices opened this week at $233.60, and ended the week with a gain of $5.20 at $238.80. 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.

Numismatics:
The current rare coin market is strong and has a depth of support not seen in recent years. While we have been singing the praises of the yellow metal in all forms – Bullion and Pre-1933 US Gold Coins – for the past few months, other market segments are continuing to grow as well.

Dealer bid levels for common date Certified Morgan Silver Dollars in MS63, MS64, MS65 and MS66 are all bidding higher on the dealer networks as more buyers are taking part and raising their bids. There is additional strength and interest in Trade Dollars, and Liberty Seated Dollars as well.

One further area of the marketplace that is very strong is in the new 2009 Lincoln Cents! Because the reverses of these coins has not changed since 1959, there is incredible demand for rolls of these coins. Additionally, these coins have the lowest mintage of any “struck-for-circulation” Lincoln cent in the last 40 years!