Market Recap 12/31/09

The U.S. Stock Market traded in a narrow range during the year’s final week, further shortened by the New Year holiday on Friday. Few major reports were released this week, which kept volume in the market light. However, stocks did trend slightly lower on Tuesday, breaking six days of consecutive gains, which was the result of a Housing Report that showed continued struggles moving into the new year, according to MSN Money.

These housing struggles were partially confirmed late in the week, as Reuters reported that GMAC Financial Services received $3.8 Billion in additional government aid on top of the $12.5 Billion of taxpayer money it had already received. This infusion of government bailout money refueled concerns about the general health of the lenders and “will boost the federal government’s ownership in GMAC to 56 percent, from 35 percent,” according to the Huffington Post.

With continued housing woes, increasing government bailouts and much concern over the Health Care Reform legislation, many investors are cautious as 2010 approaches. Many continue to look to gold as a respite from encroaching inflation and the lingering uncertainty of economic recovery. Gold ended the year up 25 percent, according to Reuters.com, with the “biggest absolute annual gain in three decades with a small advance on Thursday, rising for an unprecedented ninth year in a row.”

APMEX wants to wish all our customers a safe and prosperous New Year. We look forward to helping you achieve your precious metal investment goals in 2010. Over the New Year’s holiday, we hope that you are able to take advantage of 2010 Gold and Silver American Eagles pre-sale, going on now at www.APMEX.com.

Gold:
Spot Gold prices opened this week at $1,108.80. The high during the week was on Monday, December 28th, at $1,113.50, while the low for the week occurred on Wednesday, December 30, at $1,086.60. Gold ended the week down $10.70 at $1,098.10. This week, 2009 1 oz. Gold American Eagles, 1 gram Sunshine Minting Gold Bars and Random Year 1 oz. Gold Maple Leafs were popular with gold investors.

Silver:
Spot Silver prices opened this week at $17.54. Silver reached a high of $17.61 on Monday, December 28th, while the low for silver occurred on Wednesday, December 30th, at $16.79. Silver ended the week down $0.60 at $16.94 This week, investors purchased 2009 1 oz. Silver American Eagles, 2010 1 oz. Silver Maple Leafs, and 1 oz. Sunshine Minting Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,471.00 and ended the week down $9.00 at $1,462.00. The most popular platinum products this week were 1 oz. Pamp Suisse Platinum Bars, 1/4 oz. Platinum American Eagles and 1 oz. Scotiabank Platinum Bars.

Palladium:
Spot palladium prices opened this week at $386.85 and ended the week up $23.95 at $410.80. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the most popular U.S. silver bullion coin.

The American Silver Eagle coins are backed by the United States Government for their purity, content and fineness. These beautiful coins were the first silver bullion coins ever struck by the United States. The minting of these coins began in 1986 and continues through today. These coins are struck in .999 fine silver and each weighs 1 Troy ounce.

A depiction of a walking Miss Libery graces the obverse, or front, of these silver bullion coins. This design was the same one created by famed sculptor Adolph Weinman that was used on U.S. Half Dollar coins from 1916 until 1947. The reverse, or back, of this coin depicts a Bald Eagle with a shield and 13 stars above it.

APMEX offers a complete selection of American Silver Eagle coins in virtually all years, in both Brilliant Uncirculated condition and in collector’s quality Proof condition. Coins purchased in quantities of 20 or more will be delivered in the same special tubes as used by the United States Mint. Quantities of 500 or more coins are shipped in the special green United States Mint boxes.