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Weekly Market Recap 09/25/09

9/25/2009 02:34:00 PM, Posted by APMEX, No Comment

The Federal Reserve announced Wednesday it would leave interest rates unchanged for the time being. One might think that this fact would push stocks higher and that a foothold for a recovery is taking place. However, exactly the opposite happened. Savvy investors are now concerned that the Fed has failed to expand its direct purchases of mortgages and government debt, which will likely cause higher long term interest rates. Unemployment still remains high, wage growth has not been seen and consumer spending continues to be weak. These are all signs that the economy still faces many large hurdles before recovery can gain ground.

The most recent G-20 Summit meeting was held this week in Pittsburgh and it focused on how to stabilize economies after the current financial crisis. World leaders agreed that the economy is still too weak to back off policies instituted to protect against an even worse recession. A Harvard economist stated this week that “There’s no question that the most significant vulnerability as we emerge from recession is the soaring government debt and it’s very likely that this will trigger the next crisis as governments have been stretched so wide.” While that situation can provide significant difficulties for the world’s economies, it bodes well for precious metals, as they are considered a safe refuge in uncertain times.

The APMEX Surplus Silver Sale was unveiled this week and we received a tremendous response from our customers. APMEX is liquidating one million ounces of silver between now and the end of September. APMEX has drastically reduced the premiums on over 1 million ounces of popular silver products which provides customers with the perfect opportunity to save big dollars while expanding their precious metals positions. Follow the link to view a full list of low premium items during the limited time 1 Million Ounce Surplus Silver Sale.


Spot Gold prices opened this week at $1,007.40. The high during the week was on Thursday, September 24th at $1,019.80, while the low for the week was on Friday, September 25th at $984.20. Gold ended the week down $15.00 at $992.40. This week 1 oz. – Random Year Gold American Eagles, 1 oz. – Random Year Gold Krugerrands, and 1 oz. – Random Year Gold Maple Leafs were in very high demand.


Spot Silver prices opened this week at $16.95. Silver reached a high of $17.27 on Tuesday, September 22nd, while the low for silver was occurred on Friday, September 25th, at $15.92. Silver ended the week down $0.89 at $16.06. This week 1 oz. – BU Silver American Eagles, 1 oz. – Fine Silver Buffalo Rounds and 5 oz. APMEX Silver Bars sold in very strong quantities.


Spot Platinum prices opened this week at $1,342.00, and ended the week down $62.30 at $1,279.70. Many investors continue to be keenly interested in platinum. 1 oz. – Pamp Suisse Platinum Bars, 1 oz. – 2009 Platinum Canadian Maple Leafs and ½ oz. – Platinum American Eagles continue to lead the way as the products of choice with investors.


Spot Palladium prices opened this week at $305.85, and ended the week down $11.85 at $294.00. This week, the most popular of these products were 1oz. – 2009 Palladium Canadian Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. – Credit Suisse Palladium Bars.


After sustaining itself over $1,000.00 for a period of nearly a week, the spot price of Gold has eased off a bit. Because of that fact, demand for gold coins is moving higher! Pre-1933 Gold continues to be a favorite among collectors and investors, as it combines gold value with collector value. $10 Indian Eagles and $10 Liberty Eagles have been becoming a lot more popular since they are more affordable than the $20.00 coin offerings.

The beautifully-designed Mercury Dimes have maintained their popularity especially in collector grades. As is the case with all coins, problem free examples priced at under $1,000.00 are selling strongest, especially the two key dates – the 1916-D and the 1921-D! Mercury Dimes with Fully Split Bands remain a hit with collectors as they continue to buy up any and all that are un-toned and where the split is visible without a magnifying glass.

Classic Silver Commemoratives still remain affordable in as high grade as MS-66! Both White and originally toned examples are selling well with 3rd party graded coins garnering the highest praise and fanfare. Common Commemoratives such as the Booker T. Washington and the Columbian are selling well in circulated grades, as they have a very slight premium of their actual silver content.

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