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Weekly Market Recap 06/05/09

6/04/2009 02:42:00 PM, Posted by APMEX, No Comment

Investors continue to seek protection in precious metals. The weakening U.S. Dollar, additional borrowing from the U.S. Government and threatened treasuries make precious metals a valuable safe-haven. Major Asian Banks announced mid-week the continued purchasing of U.S. treasuries helping the U.S. Dollar stabilize a bit. Rising interest rates, energy stocks and commodities fueled a late week rally in the market despite disappointing May sales reports from big retailers.

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 $981.00. The high during the week was on Wednesday, June 3rd, at $992.10, while the low for the week occurred on Friday, June 5th at the market close of $955.60. Gold ended the week down $25.40 at $955.60. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, and 1 oz. Random Year Gold Krugerrand, were all very popular items at

Spot Silver prices opened this week at $15.76. Steady trading pushed spot silver to a high of $16.25, on Wednesday, June 3rd, while the low for silver occurred on Thursday, June 4th, at $15.12. Silver ended the week down 39 cents at $15.37. 2008 and prior 1oz. Silver Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, and 2009 1oz. Silver Philharmonic’s were all in high demand this week.

Spot Platinum prices opened this week at $1197.20 and ended the week up at $1273.00. Platinum had a gain of $75.80 through 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, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.

Spot Palladium prices opened this week at $239.95 and ended the week with a gain of $19.05 at $259.00. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!

The Long Beach show proved to be a very positive indication of where the market is headed. Many dealers believe that the coin market is finally strengthening after its sub-par performance over the past year or so. With the price of metals climbing as high as they have gone, it is no wonder all eyes have turned to Pre-1933 Gold. While Gold is again flirting with $1,000 an ounce, nearly all Pre-1933 Gold in higher grade has been at the top of everyone’s want list. Silver has also been on the upward curve. Generic Morgan Silver Dollars were very active this week with brisk sales due to the run-up in silver.

Though the metals have taken up most of the headlines, the 2nd Lincoln Cent of four this year, the Formative Years, has been doing quite well as prices are more reasonable than when the Birthplace Cent was first released. Many have already been found in circulation! Early Lincoln Cents continue their upward trend while Flying Eagle Cents seem to be jumping into the action as well. Early Mercury Dimes with Full Split Bands and Walking Liberty Half Dollars are also continuing to hold strong. Select Classic Commemorative Half Dollars continue to perform well in higher grades.

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