Weekly Market Recap - 11/28/08

Precious metals prices continued to fluctuate this week as crude-oil prices tumbled and U.S. equity markets erased gains. With Thanksgiving now over and the Christmas holiday on the horizon, the stock market remains unstable but active.

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.

Gold:
Following the Thanksgiving holiday, gold was on the rise for its fourth straight week, ending the month with its biggest monthly gain in nine years. Spot Gold prices opened this week at $ 802.00. The high during the week was on Tuesday November 25th at $835.50, while the lowest point occurred on Monday, November 24th at $786.20. Overall, gold ended the week up at 820.40. Gold Kruggerands were in great demand and short supply.

Silver:
Spot Silver prices opened last week at $ 9.63. Active trading pushed spot silver to a high of $10.68 on Monday, November 24th. The low for silver also occurred on Monday at $9.46. Overall, silver ended the week up, at $10.40. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast. With the arrival of the 2009 SAE’s fast approaching, now’s a great time to purchase the 2008 Silver Eagles and take advantage of the low prices.

Platinum:
Spot Platinum prices opened last week at $826.10. Overall, platinum ended the week up at $885.00. Products such as 1 oz Platinum Bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.

Palladium:
Spot Palladium prices opened this week at $185.10. Overall, palladium ended the week up at $195.00. Canadian Palladium Maple Leafs were in great demand and short supply.

Numismatics:
The much-heralded Baltimore coin show lived up to most expectations last week as many dealers reported brisk activity. Numerous astute buyers were using the weakness in the general economy as a rationale for asking dealers to accept lower offers for their coins. That argument fell on deaf ears of many dealers who had quality coins to sell. Early Lincoln cents are in great demand as are pre-1933 US gold coins. All better date Morgan Silver Dollars are in great demand, as are all of the different issues of type coins, especially Bust, Seated and Barber material. But classic commemorative coins (1892 to 1954), both silver and gold types, are fairly quiet with a few scarcer issues being actively sought and the more generic issues remaining relatively quiet.

Weekly Market Recap - 11/21/08

America is only one week away from the official start of the holiday season. Investors and collectors alike looked to precious metals yet again after U.S. stocks plunged this week, sparking worries about a deepening economic slump. However, there has still been a lot of action in the stock market. Throughout the week we’ve seen the price of precious metals gain ground as gloomy economic news and falling crude-oil prices stepped up investors' interest in safe-haven buying.

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.

Gold:
Spot Gold prices opened this week at $740.00. The high during the week was at close on Friday at $805.50, while the lowest point occurred on Monday, November 17th at $729.60. Gold American Eagles, Gold Maple Leafs and Gold Bars were all in great demand and short supply.

Silver:
Spot Silver prices opened last week at $9.42. Active trading pushed spot silver to a high of $9.85 on Wednesday, November 19th. The low for silver occurred on Thursday, November 20th at $8.80. Overall, silver ended the week up, at $9.77. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast.

Late in the week, the Perth Mint announced a suspension on orders for gold and silver until January 2009. Many investors have chosen to take advantage of these popular items:

• Silver Maple Leafs
• Silver Buffalo Rounds
• 100 oz Silver bars
• Perth Mint Silver Lunar Series 2
  

Platinum:
Spot Platinum prices opened last week at $841.10. Overall, platinum ended the week down at $836.50. Products such as 2008 ¼ Platinum American Eagles, 1 oz. Pamp Suisse platinum bars and 1 gram Credit Suisse platinum bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.

Palladium:
Spot Palladium prices opened this week at $215.00. Overall, palladium ended the week down at $192.00. Palladium Pamp Suisse 1 and 10 oz bars were in great demand and short supply. Availability is limited, but we currently do have bars in stock and ready to ship.

Numismatics:
The week before Thanksgiving is generally a busy one in the numismatic world as the number of coin shows between now and year end is very limited. Many dealers were awaiting the results of the much-heralded Baltimore coin show to determine the health of the coin market. Although demand for gold coins has slowed a bit, the premiums being paid are still at record high levels.

Rare date silver Morgan dollars and silver Peace dollars are leading the price movements on silver dollars, while common dates have retrenched a bit. But vintage (pre-1934) Lincoln cents are red hot with lots of buyers willing to pay bid and higher for choice, original early coins. The upcoming design changes early next year should inspire renewed interest in our venerable Lincoln cents.

Mint Suspends Orders Amid Rush To Buy Bullion

At APMEX, we have a great selection of Perth Mint items in stock and ready to ship:

• 2008 - 2009 Silver Lunar Series 2 Coins
• 2006 - 2008 Silver Lunar Series 1 Coins
  

Get your Perth Mint Silver while others around the world have to wait!

FEARS of the unknown long-term effects from the global financial crisis have sparked a new gold rush.

With retail and wholesale clients around the world stocking up on the precious metal, the Perth Mint has been forced to suspend orders.

As the World Gold Council reported that the dollar demand for gold reached a quarterly record of $US32 billion ($50.73 billion) in the third quarter, industry insiders said the race to secure physical gold had reached an intensity that had never been witnessed before.

Perth Mint sales and marketing director Ron Currie said the unprecedented demand had forced the Mint to cease orders until January, with staff working seven days a week, 24-hour days, over three shifts to meet orders.

He said Europe was leading the demand, with Russia, Ukraine, Middle East and US all buying -- making up 80 per cent of its sales. One European client purchased 30,000 ounces for $33 million.

"We have never seen this before and are working right at capacity. And we are seeing it from clients in the shop buying one ounce, right up to 30,000 ounces from overseas clients," Mr Currie said.

Robert Jaggard, manager of bullion and rare coins dealer Jaggards, said business had picked up strongly and he expected it to increase further.

"All around the world there has been a heavy run on physical gold and there is a shortage of supply," he said.

Mr Jaggard, who has been dealing in gold for 40 years and is an agent for the Perth Mint, said some clients were buying up to $1million worth of gold, paying a premium above the spot price.

Late yesterday afternoon, spot gold in Sydney was trading at $US747.30 an ounce, up $US8.15 on Thursday's local close.

"Professional business people who have previously bought small amounts now want more gold because they are suffering in other markets," Mr Jaggard said.

At a conference this week in Munich, delegates were lined up 30-deep to purchase physical gold. And reports out of the Middle East suggested that there had been unprecedented gold buying in Saudi Arabia during the first half of November, with an estimated $US3.5 billion purchased in recent weeks.

The World Gold Council, releasing its global demand trends yesterday, said identifiable investment demand, which incorporates demand for gold through exchange-traded funds and bars and coins, was the biggest contributor to overall demand during the quarter. It was up to $US10.7 billion, double last year's levels.

The figures showed retail investment demand rose 121 per cent to 232 tonnes in the third quarter, with strong bar and coin buying reported in Swiss, German and US markets.

The quarter also witnessed widespread reports of gold shortages among bullion dealers across the globe, as investors searched for a haven. Overall, quarter three saw Europe reach an all-time record 51 tonnes of bar and coin buying. France became a net investor in gold for the first time since the early 1980s.

World Gold Council chief executive James Burton said gold's universal role as a store of value had shone through during the quarter, helping attract investors and consumers to all forms of gold ownership.

"The rise in demand for gold bars and coins has been impressive," he said.

Demand in India, the largest market for gold, recovered during the third quarter, encouraged by lower gold prices, a good monsoon and the onset of the festive season. At 250 tonnes, total consumer demand was 31 per cent higher than the same period last year. In value terms, demand hit the record quarterly sum of $US5 billion.

View the original posting at The Australian.

Weekly Market Recap - 11/14/08

A week after the presidential election, the stock market is still showing some pretty unstable numbers. However, there has still been a lot of action in the stock market. Throughout the week we’ve seen the price of precious metals fluctuate.

Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.

Gold:
Spot Gold prices opened this week at $739.00. The high during the week was $768.00 on Monday November 10th, while the lowest point occurred on Thursday November 13th at $698.20. Overall, gold ended the week at $745.00. Gold American Eagles, Maple Leafs and Gold Bars were all in great demand and short supply.

Silver:
Spot Silver prices opened last week at $10.06. Active trading pushed spot silver to a high of $10.53 on Monday, November 10th. The low for silver occurred on Thursday, November 13th at $8.77. Overall, silver ended the week down, at $9.60. Silver American Eagles were in great demand and we received a significant shipment of 2008 Silver American Eagles. With the arrival of the 2009 SAE’s fast approaching, now’s a great time to purchase the 2008 Silver Eagles and take advantage of the low prices. Other popular items available to silver enthusiasts include:

• Silver Maple Leafs
• Buffalo Silver Rounds
• 100 oz Silver bars

Platinum:
Spot Platinum prices opened last week at $864.80. Overall, platinum ended the week down at $850.00. Products such as 2008 ¼ & 1/10 Platinum American Eagles were highly desired.

Palladium:
Spot Palladium prices opened this week at $225.00. Overall, palladium ended the week down at $224.00. Palladium Pamp Suisse 1 oz Bars were in great demand. Availability is limited, but we currently do have bars in stock and ready to ship.

Numismatics:
The numismatic market continued its aggressive upward movement this week with numerous sectors showing strong growth. The demand for Pre-1933 US gold is exceedingly strong in virtually all grades. But the supply of these coins is strong and adequate for the current demand. Morgan silver dollars are strong, especially in very high grades, but Peace silver dollar issues are quiet at current levels. Type coins are extremely strong and problem-free specimens are eagerly sought by many buyers. Classic commemorative coin prices are mixed with several issues being up but a like number of more common issues are down. Proof and Mint Sets are showing great strength at current levels as they generally do during the Holiday season.

APMEX Video Journal - Interview with Mac Beavers, APMEX Trader

As you know, the markets have been quite volatile lately. At APMEX we have been very busy locating products to satisfy the demand of the market during these trying times.

We have also been working on some new videos for you. These videos are more of a video journal - the APMEX Journal in fact, where we will be interviewing various individuals in the company, getting their unique perspectives on the market and sharing their advice with you.

We hope you enjoy the interview. After watching the video below, please feel free to rate this post, share it with friends and add your comments to the conversation. Thanks for watching.

Limited Supply Gold Eagles & Gold Buffalos

Recently, at APMEX.com we secured a fresh supply of new gold bullion for our customers. We have a limited supply of Gold American Eagles and Gold Buffalos available on our site.

Due to the extremely high-demand for US Gold coins , these bullion coins will go fast! Take advantage of their availability before they are gone.