Weekly Market Recap 09/18/09

The stock market flood gates opened up a bit this week as investors continued to speculate on the market’s direction. There are many contradictory company reports that are still being released and that is keeping troubled thoughts on the front burner.

The CFO for MasterCard said that the global economic slowdown continues to prove challenging for consumers. Furthermore she stated that unemployment and low consumer confidence will continue to impact economic growth. There was a big drop in the dollar which boosted metal, industrial and energy stocks. This weakness in the US Dollar also favorably impacted the price of Gold, which was up overall during the week. Skepticism about the market’s direction is ever present and the Federal Reserve Chairman said that the economy is still going to continue to feel very weak. Only time will tell if a more firm direction in the market can be seen or if reform proposals and stimulus money by the government will actually take effect.

Gold:
Spot Gold prices opened this week at $1,005.90. The high during the week was on Thursday, September 17th at $1,024.70, while the low for the week was on Tuesday, September 15th at $992.60. Gold ended the week with a gain of $2.60 at $1,008.50. This week 1oz. – Random Year Gold American Eagles, 1oz. – Random Year Gold Krugerrands, and 1oz. – Random Year Gold Maple Leafs were in very high demand.

Silver:
Spot Silver prices opened this week at $16.75. Silver reached a high of $17.69 on Thursday September 17th, while the low for silver occurred on Monday, September 14th, at $16.32. Silver ended the week with a gain of $0.29 at $17.04. This week 1oz. – BU Silver American Eagles, 1oz. – Fine Silver Buffalo Rounds and 1oz. – 2009 Silver Maple Leafs sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1,322.80 and ended the week with a gain of $14.60 at $1,337.40. Many investors continue to be keenly interested in platinum. 1oz. – Pamp Suisse Platinum Bars, 1oz. – 2009 Platinum Canadian Maple Leafs and ½ oz. – Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $294.95 and ended the week with a gain of $11.05 at $306.00. This week, the most popular of these products were 1oz. – 2009 Palladium Canadian Maple Leafs, 1oz. Pamp Suisse Palladium Bars and 10oz. – Credit Suisse Palladium Bars.

Numismatics:
The price of Gold has exploded! With it near its all time high spot price, APMEX is working hard to ensure that it has enough gold coins and bars for everyone! Pre-1933 US Gold is off the charts as collectors and investors alike are poised for gold to reach or to beat the all-time high price of $1,033.90. The yellow metal has seen an unprecedented rise in popularity and APMEX is stocked with not only bullion coins and bars, but also with $20 Saint-Gaudens gold coins and $20 Liberty gold coins, all the way down to the $2.50 Quarter Eagle Indians and $2.50 Quarter Eagle Liberty coins. From common dates to scarcer dates, all have been moving up in price and moving out rather quickly due to APMEX’s free Market Alerts.

Silver has also exploded, reaching heights that have not been seen in over a year. 90% silver coins as well as Morgan Silver Dollars and Peace Silver Dollars have been extremely hot! Whether they are in bag form or roll form, 90% silver coins have been the most popular item for the silver buying customers at APMEX this week. Nearly anything numismatic that contains silver has seen a flood of attention, regardless of denomination.

While Gold and Silver have been garnering most of the attention this week, Lincoln Cents have still been the burning ember in the fire that has catapulted copper to the top of everyone’s want list. Because 2009 is the bicentennial of Lincoln’s birth and the centennial of the Lincoln Cent itself, nearly every date and mintmark has been red hot. Key date coins graded by a third party grading service such as the 1909-S VDB, 1914-D and 1922 plain have become extremely popular as well as all of the early date Lincoln Cents. APMEX has a wide selection of dates, mintmarks and grades for you!