Weekly Market Recap 5/1/09

Improvements in the economy, as small as they may be, have given investors a more positive outlook about stock market. The big question is, could this be the bottoming of the recession or will the massive amount of money the government is pumping into the economy only worsen the situation? Only time will tell.

This week, the outbreak of swine flu and the chapter 11 bankruptcy announcement by Chrysler surprisingly had little effect on the markets balance as the bulls and bears battled for supremacy. However, the Chrysler bankruptcy hearing begins today and any negative news could make the markets drop very swiftly. Banks and industrial stocks were market leaders this week, as traditional patterns of business cycles are becoming more visible. Precious metal continues to act as a safe haven for investors not willing to risk the current volatile market.

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 $915.00. The high during the week was on Monday April 27th, at $919.70, while the low for the week occurred on Thursday, April 30th at $880.10. Gold ended the week down a bit at $888.50. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 ½ oz. Gold Maple Leafs, 2009 1/10 ounce Austrian Philharmonics, and 1 ounce Pamp Suisse Gold Bars were all very popular items at APMEX.com.

Silver:
Spot Silver prices opened last week at $12.89. Active trading pushed spot silver to a high of $13.24, on Monday, April 27th, while the low for silver occurred also occurred on Thursday, April 30th, at $12.18. Silver ended the week down a bit at $12.59. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 1 oz. Walking Liberty Silver Rounds, 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 $1185.00, and ended the week down a bit at $1095.10. 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,1 oz. Platinum American Eagles, ¼ oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.

Palladium:
Spot Palladium prices opened this week at $236.40, and ended the week down a bit at $219.00. 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:
In some areas of this week’s rare coin market, there is demand and there is also profit-taking! The demand is still HOT for GOLD in all forms! Whether you have Bullion or you have Pre-1933 US Gold Coins there is strong demand for all coins in all grade levels. Common dates, rare dates – all are in demand!

Last week, the dealer bid levels for common date Certified Morgan Silver Dollars in MS63, MS64, MS65 and MS66 were all bid higher; this week, profit-taking is occurring and while prices are slightly lower, many coins are trading hands at these new levels. Barber dimes, Barber quarters and Barber halves are seeing increasing interest. Silver Classic Commemorative coins are MUCH stronger in a variety of grades. There is great demand for Bust Half Dimes as well.