For 2009, the best advice is likely to again be to stick to precious metals and cash to keep safe and hedge on deflation and inflation. There is also a strong possibility that precious metals will have a particularly good 2009 with a continued flight to this safe haven and a breakdown in the futures market. Nothing else has much potential upside.
From everyone at APMEX, we wish you all Happy Holidays and a prosperous new year.
Gold: Spot Gold prices opened this week at $839.40. The high during the week was on Monday at $853.00,
while the low for the week occurred on Tuesday at 829.90. Gold ended the week up at $850.40. Gold and silver seem to be the safe investment. Historically, gold has always had a nice return. This year with most stocks down over 50% gold is only down about 20%. Some predict the U.S. economy in 2009 to become worse. If this is the case, I think we will see gold and silver soar to new levels. This week, 2008 1 oz Gold American Eagles, 2009 1 oz Gold Maples and 1 oz Pamp Suisse Gold Bars were all in high demand and very difficult to find.
Silver:Spot Silver prices opened last week at $10.88. Active trading pushed spot silver to a high of $11.09 on Monday. The low for silver occurred on Tuesday at $10.10. Silver ended the week down at $10.46. 2008 Silver American Eagles, 1 oz Silver Buffalo Rounds, 2009 Silver Chinese Pandas, 2009 Silver Maple Leafs and 1 oz APMEX Silver Bars were hot this week and in limited supply.
Platinum:Spot Platinum prices opened last week at $858.00, but ended the week up at $866.50 Investors were eager to purchase 1 oz Pamp Suisse Platinum Bars, though the scarce supply made it difficult to acquire these fine bars and coins.
Palladium:Spot Palladium prices opened this week at $178.00, but ended the week up at $180.30. Palladium products like the 1 oz Palladium Bars continue to be in great demand and very hard to come by.
Numismatics:
As 2008 draws to a close, the rare coin market looks forward to 2009. The economic uncertainty in the general economy has left investors looking for alternative investments. Rare coins and bullion certainly fit that bill perfectly. Coins and bullion have historically acted as a hedge against inflation and this year has continued that trend. But it was not only investors who were buying rare coins. Many beginning collectors joined the ranks of those making numismatic purchases. The Statehood Quarter series completed its final run with the issuance of the Hawaiian quarter and many of these collectors have now had the satisfaction of completing their first sets. These same collectors are now looking forward to the Territories Series. While that was happening, many advanced collectors are now purchasing key date and high quality coins to add to their collections before prices go even higher. Happy Holidays!
