Weekly Market Recap 09/25/09

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.

Gold:

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.

Silver:

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.

Platinum:

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.

Palladium:

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.

Numismatics:

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.

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!

Weekly Market Recap 09/11/09

The major stock markets showed mixed trading results during this shortened Labor Day week. Investors restrained their buying on concerns of retreat in the market, after a short rally early in the week. Consumer credit fell $21.6 billion in July to $2.5 trillion, according to a Federal Reserve report released on Tuesday. The drop was more than five times larger than had been forecast and marked the sixth straight month of decline. The global recession has also reduced Americans’ wealth by nearly 22% since the middle of 2007.

The Fed’s Beige Book, an overview of the economy generated by the 12 Federal Reserve banks, showed little or no job growth and increased disappointment in the lack of positive economic news. According to the most recent data on labor turnover, there are 6 unemployed people for every new job opening. Even more lack luster reporting came when the Commerce Department released news that the U.S. trade deficit widened by 16.3% to $32 Billion. This is the biggest percentage increase in the deficit since February 1999. These findings are yet further evidence of the recession not yielding any time soon. Much of this news contributed, in part, to Gold’s climb over the $1,000 per Troy Ounce threshold. If you have not done so already, now is the time to expand your investment portfolio to include precious metals. Visit APMEX.com to see a full list of our precious metal investment opportunities.

Gold:

Spot Gold prices opened this week at $993.70. The high during the week was on Friday, September 11th at $1013.10, while the low for the week was on Thursday, September 10th at $982.80. Gold ended the week with a gain of $13.90 at $1007.60. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.

Silver:

Spot Silver prices opened this week at $16.22. Silver reached a high of $17.02 on Friday September 11th, while the low for silver was occurred on Thursday September 10th, at $16.06. Silver ended the week with a gain of $0.61 at $16.83. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2009 – 1 oz. Silver Maple Leafs sold in very strong quantities.

Platinum:

Spot Platinum prices opened this week at $1260.00, and ended the week up $63.50 at $1323.50. Many investors continue to be keenly interested in platinum. 1 oz. Credit Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:

Spot Palladium prices opened this week at $294.50, and ended the week up with a small gain of $0.90 at $295.40. This week, the most popular of these products were (1 oz.) .999 Fine Pamp Suisse Palladium Bars, 2009 – 1oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars were highly sought after this week.

Numismatics:

As gold continues to stay above the $1,000.00 per Troy Ounce mark, Pre-1933 US gold has seen a great deal of interest here at APMEX. Everything from $20 Saint-Gaudens to $5 Indian Half Eagles to the $1 Dollar gold pieces has seen an influx in popularity. Everybody is buying up as much gold as they can, and as quickly as they can. But is this the beginning of Gold sustaining itself above the $1,000.00 mark? Is the “wait-and-see” mentality finally shifting to “I’ve waited long enough?”

As has been the trend in recent weeks, with gold as high as it is, silver has also been breaking higher ground in terms of its spot price. Morgan Silver Dollars continue their surge through the marketplace and live up to their reputation as one of the most popular and sought after coins in the hobby. Peace Silver Dollars, though less popular than the Morgan design, have also seen an increase in popularity due in large part to the spike in silver spot prices. Even cull Silver Dollars have been extremely popular as a simple method of holding silver, while Brilliant Uncirculated examples of both designs maintain their prestige. The Carson City coins and all of the key dates still remain at the top of everyone’s list!

Weekly Market Recap 09/04/09

According to Stock Trader’s Almanac, September has continuously been the weakest month of the year for stocks since 1950. This year seems to be no exception as financial stocks were hammered early in the week. The Federal Deposit Insurance Corporation (FDIC) took over 45 banks in the first half of this year. That number jumped to 24 in July alone and another 15 were taken over in August. Now, the FDIC has over 400 banks on its troubled “watch” list, but projects 1,000 banks will fail before the economic crisis is through.

The volume in the stock markets was light this week due to traders not wanting to take many gambles over the long Labor Day weekend. But while the stock market dropped from its high on Tuesday, the precious metals markets saw strong gains, with gold briefly nearing the benchmark of $1,000.00 an ounce. On Thursday, Gold reached $998.00 per Troy Ounce during intraday trading. The fear of inflation from stimulus programs worldwide is now taking a larger foothold. The Labor Department further reinforced economic worries as it released reports on Friday stating the unemployment rate is at its highest point in 26 years.

This week, APMEX rolled out a promotion that allows customers an opportunity to win a round trip for two to Australia through a partnership with The Perth Mint. The 2010 “Year of the Tiger” bullion coins were offered at very attractive prices for this contest. The “Escape to Australia” contest runs through the end of the month, so visit APMEX.com today and register to win! In addition, the APMEX Sunshine Labor Day Sale offers never before offered 1oz. Sunshine Mint Silver Rounds as low as $0.59 over spot. The Labor Day Sale runs throughout the weekend, including Monday, while supplies last.

Gold:
Spot Gold prices opened this week at $956.10. The high during the week was on Thursday, September 3rd at $998.00, while the low for the week was on Monday, August 31st at $943.10. Gold ended the week with a gain of $40.00 at $996.10. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.

Silver:
Spot Silver prices opened this week at $14.77. Silver reached a high of $16.36 on Friday September 3rd, while the low for silver was occurred on Monday August 31st, at $14.55. Silver ended the week with a gain of $1.50 at $16.27. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2009 – 1 oz. Silver Maple Leafs sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1247.90,and ended the week up $12.00 at $1259.90. Many investors continue to be keenly interested in platinum. 1 oz. Credit Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $291.45, and ended the week with a gain of $4.25 at $295.70. This week, the most popular of these products were (1 oz.) .999 Fine Pamp Suisse Palladium Bars, 2009 – 1oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars were highly sought after this week.

Numismatics:
The unofficial end of summer is now upon us. So what do we have to look forward to now? Precious Metals prices have moved up as Gold rose to nearly $1,000.00 this week and silver has also climbed significantly. The metals are certainly taking a turn for the high road and APMEX is right there with you! Pre-1933 Gold, although it never lost much interest, has garnered a great deal of attention with $20 Saint-Gaudens Gold Coins and $20 Liberty Head Gold Coins leading the way. These coins are now worth even more with spot prices steadily rising! Silver also benefited from these rising spot prices. There is now a widespread resurgence in interest in the older silver coins, namely Barber Half Dollars, Barber Quarter Dollars, Washington Quarter Dollars and Mercury Dimes. All have had varied success in the past, but have really received significant interest since the spot silver price has risen over the last few weeks.

Additionally, as silver continues to climb, so does interest for Classic Silver Commemorative Half Dollars. This affordable series maintains its attractiveness to collector’s wallets even in both MS-65 and MS-66 grades and, occasionally, in MS-67 grade! As 2009 is the bi-centennial year of Lincoln’s birth, the 1918 Illinois-Lincoln Commemorative Half Dollar has seen a lot of interest and we are having trouble keeping them in stock! Common date average circulated classic silver commemoratives, such as the Columbian Exposition and the Booker T. Washington, have also been very difficult to keep in stock as the silver content is almost worth more than its numismatic value.