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Weekly Market Recap 06/26/09

6/26/2009 01:52:00 PM, Posted by APMEX, No Comment

The World Bank lowered its global growth forecast and cautioned that developing countries will face difficulty recovering from the current economic slump. Furthermore, the World Bank said that a global economic recovery is still uncertain.

This news coupled with the Obama administration's announcement that the national unemployment rate will top 10% within the next few months prompted a broad sell off in stocks early in the week. Late in the week, a weakening U.S. Dollar and firmer oil prices raised the appeal of precious metals as a potential inflation hedge. Metals prices will be tested in the coming week as investor sentiment for the market and economy at large is still inconclusive.

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 $935.10. The high during the week was on Friday, June 26, at $949.30, while the low for the week was on Tuesday June 23rd at $913.20 Gold ended the week up a bit at $940.20. This week 1 oz. 2009 Gold American Eagles, 1/10 oz. Gold Maple Leafs, 1 oz. Pamp Suisse Gold Bars and 1 oz. 2009 Gold Maple Leafs were all very popular items at

Spot Silver prices opened this week at $14.19. Modest trading pushed spot silver to a high of $14.35 on Friday, June 26th, while the low for silver occurred on Tuesday June 23rd, at $13.59. Silver ended the week at $14.12. 1 oz. 2009 Silver American Eagles, 1 oz. Walking Liberty Rounds, 1 oz. Buffalo Rounds and 1 oz. 2009 Silver Maple Leafs were all popular items at

Spot Platinum prices opened this week at $1212.00, and ended the week up at $1212.50. . Investors were eager to purchase Platinum products this week. The most popular of these items were: 1 oz. 2009 Platinum Maple Leafs, 1 oz. Credit Suisse Platinum Bars and 1 oz. Pamp Suisse Platinum Bars.

Spot Palladium prices opened this week at $246.90, and ended the week with a small gain at $248.55. Palladium products continue to be in great demand. The most popular of these products this week are; 1 oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1 oz. Palladium Canadian Maple Leafs.

The Baltimore Coin and Currency show was greeted with an even better reception now that it has become more accessible. The foot traffic at the show was strong which only attests to the fact that the coin market is strong and only strengthening. The yellow metal continues to sell well whether it be $1 Gold right up through $20 Saints.
With news of new varieties and doubled dies of Lincoln Cents being found in the newest addition to the series, the 2009 coins, they remain one of the most sought after and purchased items in all of numismatics. Perhaps because of this frenzy Early Lincolns as well as Indian Head Cents have been extremely popular as nearly every key date in both series’ has caught fire. Mercury Dimes continue to sell well with nice white full-banded examples in MS-64 or better being the prime cut on most want lists.
In addition, Classic Silver Commemoratives, are still strong with the Albany and Stone Mountain Commemoratives in higher grade selling particularly well.

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