The U.S. economy shed an additional 36,000 jobs in February. Although fewer jobs were lost than expected, the unemployment rate remained at 9.7%, according to The Wall Street Journal. An industry report said the U.S. manufacturing sector grew in February but at a slower rate than was expected.
The Commerce Department said on Monday that spending rose 0.5%, increasing for the fourth straight month, reported Reuters. Analysts polled by Reuters had expected consumer spending, which normally accounts for over two-thirds of U.S. economic activity, to increase 0.4% in January. “The message is continuing progress for the economy, if not as fast as hoped,” said Pierre Ellis, a senior economist at Decision Economics in New York.
MSN Money warned this week that the Federal Reserve’s recent increase in the discount rate may mean that higher interest rates are coming. Although the move came sooner than many had expected, it was a step toward more-normal conditions. The Fed stressed that the move doesn’t mean an imminent rise in the more-important federal funds rate. But despite those words, it’s a clear warning from the Fed that near-zero interest rates won’t last forever. This action has led some to speculate that U.S. consumers may begin to feel the pinch of inflation very soon, making precious metals all the more attractive as a hard asset.
Gold:
Spot gold prices opened this week at $1,119.00. The high during the week was on Wednesday, March 3rd, at $1,145.80, while the low for the week occurred on Monday, March 1st, at $1,112.10. Gold ended the week up $17.20 at $1,136.20. This week, Gold American Eagles, Canadian Gold Maple Leafs, and 1 oz. .9999 Pamp Suisse Gold Bars remained popular with investors.
Silver:
Spot silver prices opened this week at $16.62. Silver reached a high of $17.52 on Friday, March 5th, while the low for silver occurred on Tuesday, March 2nd, at $16.42. Silver ended the week up $0.80 at $17.42. This week, the most popular silver items included 1 oz. APMEX .999 Fine Silver Rounds, Silver American Eagles, and 1 oz. Silver Buffalo Rounds.
Platinum:
Spot platinum prices opened this week at $1,540.00 and ended the week up $41.90 at $1,581.90. 1 oz. Pamp Suisse Platinum Bars, Platinum American Eagles, and 1 gram Credit Suisse Platinum Bars were popular with platinum investors this week.
Palladium:
Spot palladium prices opened this week at $433.90 and ended the week up $48.50 at $482.40. Popular palladium products this week included 2009 Palladium Canadian Maple Leafs MS-69 NGC and 1 oz. .999 Fine Pamp Suisse Palladium Bars.
Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week’s featured product is the Australian Gold Kangaroo from the Perth Mint.
Founded in 1899, the Perth Mint is a world leader in the innovative design and minting of precious metal products. The Perth Mint introduced the Australian Gold Kangaroo/Nugget series of bullion coins in 1987. From its beginning, this issue of coins had two unique features: these coins featured a 'two-tone' frosted design effect, and each coin was sealed in an individual hard plastic case. Issued as Australian legal tender, gold Kangaroos are a favorite with investors worldwide.
At first, the reverse of these coins displayed an Australian gold nugget. Then in 1989, the design was changed to feature a more world-recognized symbol of Australia — the kangaroo. The Australian Kangaroo designs vary every year, making these bullion coins highly sought after as collectibles. Struck from .9999 pure gold, Australian Kangaroos make a great addition to anyone's bullion position.
APMEX offers Australian Gold Kangaroo/Nugget coins in a variety of sizes, including 1 ounce gold coins and fractional gold coins in 1/2, 1/4, 1/10 and 1/20 ounce weights.
Showing posts with label palladium. Show all posts
Showing posts with label palladium. Show all posts
Market Recap 2/26/10
The Commerce Department reported on Wednesday, that sales of new single-family homes in the U.S. sank 11% in January to a seasonally adjusted annual rate of 309,000. It was an unexpected tumble that sent sales to their lowest level since these records began in 1963 and this loss wiped out much of the progress made in the last year, according to The Wall Street Journal. Existing-home sales fell 7.2% in January to a seasonally adjusted annual rate of $5.05 million, the lowest in seven months, said the National Association of Realtors.
The Fed is keeping interest rates near zero to encourage lending to businesses and consumers in order to stimulate growth, reported Reuters, which also means there is little money to be made by investors holding cash or bonds. “This is a little different from when you have a robust economy where you can buy the market and everything goes up because you believe in the economy,” said Keith Springer, President of Capital Financial Advisory Services in Sacramento, California.
“American International Group (AIG) warned that it may need more assistance from the U.S. Government, but the insurer said it will have adequate liquidity to ‘finance and operate AIG’s businesses and continue as a going concern for at least the next twelve months,” reported MSN Money. This plethora of weak economic news may bode well for investments in precious metals, which historically are considered a hedge against inflation.
APMEX was able to secure a limited allotment of Scruffy Random-Year Gold Canadian Maple Leaf bullion coins this week, and we are excited to be able to offer them at the very low premium of only $24.95 over spot in any quantity. If you are looking to add gold to your position or portfolio, you will be hard pressed to find a lower premium than this on gold bullion.
Gold:
Spot gold prices opened this week at $1,121.20. The high during the week was on Monday, February 22nd, at $1,130.40, while the low for the week occurred on Thursday, February 25th, at $1,088.50. Gold ended the week down $1.80 at $1,119.40. This week, investors concentrated their interest in Gold American Eagles, Canadian Gold Maple Leafs and 1 gram .9999 Sunshine Minting Gold Bars.
Silver:
Spot silver prices opened this week at $16.37. Silver reached a high of $16.56 on Monday and Friday this week, while the low for silver occurred on Wednesday, February 24th, at $15.62. Silver ended the week up $0.17 at $16.54. Silver American Eagles, 1 oz. APMEX .999 Fine Silver Rounds and Canadian Silver Maple Leafs remained popular with silver investors this week.
Platinum:
Spot platinum prices opened this week at $1,543.90 and ended the week up $4.10 at $1,548.00. This week, Canadian Platinum Maple Leafs, 1 oz. Pamp Suisse Platinum Bars and Platinum American Eagles continued to be popular with investors.
Palladium:
Spot palladium prices opened this week at $443.50 and ended the week down $6.70 at $436.80. This week, the most popular palladium items included Random Year 1 oz. Palladium Canadian Maple Leafs and 1 oz. .999 Fine Pamp Suisse Palladium Bars.
Featured Bullion Product:
Each week, APMEX will feature a different bullion product for the benefit of our readers. This week’s featured product is the United States silver dollar.
The U.S. Mint produced these coins from 1794 until 1935. APMEX carries a wide selection of Early, Trade, Morgan and Peace Dollars in many different die and mint varieties. Each silver dollar contains .77344 ounces of pure silver, making these silver dollars the most popular silver coins ever produced by the U.S. Mint. The Morgan Dollar, which was minted between 1878 and 1921, is considered by many to be the most widely collected silver coin in U.S. history.
Silver dollars are a favorite among collectors because of their size, beauty and availability, and APMEX is proud to offer a vast selection of silver dollars in all conditions, in both certified and uncertified states.
The Fed is keeping interest rates near zero to encourage lending to businesses and consumers in order to stimulate growth, reported Reuters, which also means there is little money to be made by investors holding cash or bonds. “This is a little different from when you have a robust economy where you can buy the market and everything goes up because you believe in the economy,” said Keith Springer, President of Capital Financial Advisory Services in Sacramento, California.
“American International Group (AIG) warned that it may need more assistance from the U.S. Government, but the insurer said it will have adequate liquidity to ‘finance and operate AIG’s businesses and continue as a going concern for at least the next twelve months,” reported MSN Money. This plethora of weak economic news may bode well for investments in precious metals, which historically are considered a hedge against inflation.
APMEX was able to secure a limited allotment of Scruffy Random-Year Gold Canadian Maple Leaf bullion coins this week, and we are excited to be able to offer them at the very low premium of only $24.95 over spot in any quantity. If you are looking to add gold to your position or portfolio, you will be hard pressed to find a lower premium than this on gold bullion.
Gold:
Spot gold prices opened this week at $1,121.20. The high during the week was on Monday, February 22nd, at $1,130.40, while the low for the week occurred on Thursday, February 25th, at $1,088.50. Gold ended the week down $1.80 at $1,119.40. This week, investors concentrated their interest in Gold American Eagles, Canadian Gold Maple Leafs and 1 gram .9999 Sunshine Minting Gold Bars.
Silver:
Spot silver prices opened this week at $16.37. Silver reached a high of $16.56 on Monday and Friday this week, while the low for silver occurred on Wednesday, February 24th, at $15.62. Silver ended the week up $0.17 at $16.54. Silver American Eagles, 1 oz. APMEX .999 Fine Silver Rounds and Canadian Silver Maple Leafs remained popular with silver investors this week.
Platinum:
Spot platinum prices opened this week at $1,543.90 and ended the week up $4.10 at $1,548.00. This week, Canadian Platinum Maple Leafs, 1 oz. Pamp Suisse Platinum Bars and Platinum American Eagles continued to be popular with investors.
Palladium:
Spot palladium prices opened this week at $443.50 and ended the week down $6.70 at $436.80. This week, the most popular palladium items included Random Year 1 oz. Palladium Canadian Maple Leafs and 1 oz. .999 Fine Pamp Suisse Palladium Bars.
Featured Bullion Product:
Each week, APMEX will feature a different bullion product for the benefit of our readers. This week’s featured product is the United States silver dollar.
The U.S. Mint produced these coins from 1794 until 1935. APMEX carries a wide selection of Early, Trade, Morgan and Peace Dollars in many different die and mint varieties. Each silver dollar contains .77344 ounces of pure silver, making these silver dollars the most popular silver coins ever produced by the U.S. Mint. The Morgan Dollar, which was minted between 1878 and 1921, is considered by many to be the most widely collected silver coin in U.S. history.
Silver dollars are a favorite among collectors because of their size, beauty and availability, and APMEX is proud to offer a vast selection of silver dollars in all conditions, in both certified and uncertified states.
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Market Recap 2/12/10
Stock prices were weak in the U.S. on Friday, after a surprise move by China to restrict bank lending to cool its surging economy. This action by the Chinese government “weighed down many commodity prices,” reported Reuters. Markets were also pressured by weaker-than-expected reads on U.S. consumer sentiment and business inventories, brushing aside a higher-than-forecast figure on January U.S. retail sales, which rose 0.5 percent. Also this week, The Dow Jones Industrial Average closed below 10,000 for the first time since November 2009.
The Wall Street Journal reported this week that, “Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year, bringing to a close a period of historically low interest rates that have made it easier for ailing banks to book big profits.” Market participants also kept a close eye on financial instability in Europe, where issues surrounding the creditworthiness of several countries, particularly Greece, have recently surfaced.
“More than 2 million of the jobs that were erased from the economy over the past two years are probably gone for good,” says MSN Money. Does all of this economic uncertainty bode well for the Precious Metals markets over the next few months? Some analysts, like Scotiabank’s Patricia Mohr, seem to think so as she continues to believe that gold will test the $1,300.00 per ounce price level again.
The “I Heart APMEX” Video Contest remained popular this week and brought in dozens more entries from around the country. APMEX fans have submitted some great videos, garnering a large number of views, comments and ratings. Entrants have a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. You have until 11:59PM on this Sunday (February 14th) to submit your entry. Winners will be announced next week.
Gold:
Spot gold prices opened this week at $1,068.00. The high during the week was on Friday, February 12th, at $1,097.80, while the low for the week was $1,061.70 on Monday, February 8th. Gold ended the week up $23.00 at $1,091.00. Extremely popular items this week included Gold American Eagles, 2010 Vancouver Olympic Gold Maple Leafs and 1 oz. .9999 Pamp Suisse Gold Bars.
Silver:
Spot silver prices opened this week at $15.16. Silver reached a high of $15.73 on Thursday, February 11th, while the low for silver occurred on Monday, February 8th, at $14.95. Silver ended the week up $0.32 at $15.48. Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2010 Vancouver Silver Maple Leafs and 5 oz. .999 Sunshine Mint Silver Bars were the focus of silver investors at www.APMEX.com this week.
Platinum:
Spot platinum prices opened this week at $1,474.40 and ended the week up $39.70 at $1,514.10. Some of the most sought after platinum products this week included Platinum American Eagles, Platinum Canadian Maple Leafs and 1 oz. Pamp Suisse .999 Fine Platinum Bars.
Palladium:
Spot palladium prices opened this week at $396.00 and ended the week up $25.10 at $421.10. This week, 1 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were popular with palladium investors.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, in honor of the 2010 Olympics in Vancouver, Canada, we take a look at the Canadian Gold Maple Leaf coin.
As the second oldest gold bullion coin, the Canadian Maple Leaf became the alternative to the South African Krugerrand. The Royal Canadian Mint began striking these coins in 1979 and that minting continues through today. These artistic coins are struck in beautiful 24-karat pure gold and each weighs 1 Troy ounce.
On the obverse, or front, of these coins is a depiction of Great Britain’s Queen Elizabeth the Second. The reverse, or back, of this coin depicts the national symbol of Canada – the Maple Leaf. These stunning coins are backed by the Royal Canadian Mint for their purity, content and fineness.
The Royal Canadian Mint also manufactures specially designed coins such as the 2010 Vancouver Olympics Gold and Silver Maple Leaf coins for important historical events. These coins are destined to become collectors’ items as well as retain their bullion value.
APMEX offers a superb selection of Canadian Gold Maple Leaf coins in a variety of dates and special designs as produced by the Mint. Coins purchased in quantities of 25 or more will be delivered in special tubes and quantities of 500 or more coins are shipped in the special Royal Canadian Mint boxes.
The Wall Street Journal reported this week that, “Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year, bringing to a close a period of historically low interest rates that have made it easier for ailing banks to book big profits.” Market participants also kept a close eye on financial instability in Europe, where issues surrounding the creditworthiness of several countries, particularly Greece, have recently surfaced.
“More than 2 million of the jobs that were erased from the economy over the past two years are probably gone for good,” says MSN Money. Does all of this economic uncertainty bode well for the Precious Metals markets over the next few months? Some analysts, like Scotiabank’s Patricia Mohr, seem to think so as she continues to believe that gold will test the $1,300.00 per ounce price level again.
The “I Heart APMEX” Video Contest remained popular this week and brought in dozens more entries from around the country. APMEX fans have submitted some great videos, garnering a large number of views, comments and ratings. Entrants have a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. You have until 11:59PM on this Sunday (February 14th) to submit your entry. Winners will be announced next week.
Gold:
Spot gold prices opened this week at $1,068.00. The high during the week was on Friday, February 12th, at $1,097.80, while the low for the week was $1,061.70 on Monday, February 8th. Gold ended the week up $23.00 at $1,091.00. Extremely popular items this week included Gold American Eagles, 2010 Vancouver Olympic Gold Maple Leafs and 1 oz. .9999 Pamp Suisse Gold Bars.
Silver:
Spot silver prices opened this week at $15.16. Silver reached a high of $15.73 on Thursday, February 11th, while the low for silver occurred on Monday, February 8th, at $14.95. Silver ended the week up $0.32 at $15.48. Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2010 Vancouver Silver Maple Leafs and 5 oz. .999 Sunshine Mint Silver Bars were the focus of silver investors at www.APMEX.com this week.
Platinum:
Spot platinum prices opened this week at $1,474.40 and ended the week up $39.70 at $1,514.10. Some of the most sought after platinum products this week included Platinum American Eagles, Platinum Canadian Maple Leafs and 1 oz. Pamp Suisse .999 Fine Platinum Bars.
Palladium:
Spot palladium prices opened this week at $396.00 and ended the week up $25.10 at $421.10. This week, 1 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were popular with palladium investors.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, in honor of the 2010 Olympics in Vancouver, Canada, we take a look at the Canadian Gold Maple Leaf coin.
As the second oldest gold bullion coin, the Canadian Maple Leaf became the alternative to the South African Krugerrand. The Royal Canadian Mint began striking these coins in 1979 and that minting continues through today. These artistic coins are struck in beautiful 24-karat pure gold and each weighs 1 Troy ounce.
On the obverse, or front, of these coins is a depiction of Great Britain’s Queen Elizabeth the Second. The reverse, or back, of this coin depicts the national symbol of Canada – the Maple Leaf. These stunning coins are backed by the Royal Canadian Mint for their purity, content and fineness.
The Royal Canadian Mint also manufactures specially designed coins such as the 2010 Vancouver Olympics Gold and Silver Maple Leaf coins for important historical events. These coins are destined to become collectors’ items as well as retain their bullion value.
APMEX offers a superb selection of Canadian Gold Maple Leaf coins in a variety of dates and special designs as produced by the Mint. Coins purchased in quantities of 25 or more will be delivered in special tubes and quantities of 500 or more coins are shipped in the special Royal Canadian Mint boxes.
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Market Recap 2/5/10
The U. S. economy has continued to shed jobs, which has cast doubts over the labor market's strength, according to the Wall Street Journal. United States employers cut 20,000 jobs in January, while December's number of job losses was revised from 85,000 to a drop of 150,000! The jobless rate, calculated using a household survey, fell to 9.7% last month from an unrevised 10% in December.
MSN Money stated Thursday that stocks plunged following the report that showed an unexpected rise in initial jobless claims. This caused the Dow Jones Industrial Index to drop below the 10,000 point mark for a short time. The precious metals market dipped as well, causing APMEX customers to take advantage of low spot prices as they scrambled to add to their gold, silver, platinum and palladium positions. Many customers may have viewed this retrenchment in prices as a short-term buying opportunity as they aggressively purchased all types of precious metal products.
The “I Heart APMEX” Video Contest kicked off this week and brought in dozens of video entries from the U.S. and Canada. APMEX fans rushed to get their entries in, some coming in within hours of the contest’s launch. Entrants are eligible for a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. Check out the contest rules and submit your video today! You have until 11:59PM (CST) on Valentine’s Day (February 14th) to submit your entry.
Gold:
Spot gold prices opened this week at $1,081.10. The high during the week was on Wednesday, February 3rd, at $1,125.80, while the low for the week was $1,042.50 and it occurred on Friday, February 5th. Gold ended the week down $13.30 at $1,067.80. This week, the most popular gold items included Gold American Eagles, 1 oz. .9999 APMEX Gold Bars and Gold Canadian Maple Leafs.
Silver:
Spot silver prices opened this week at $16.17. Silver reached a high of $16.95 on Wednesday, February 3rd, while the low for silver occurred on Friday, February 5th, at $14.62. Silver ended the week down $0.97 at $15.20. 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2010 Silver Canadian Maple Leafs were some of the most popular silver items sold by http://www.apmex.com/.
Platinum:
Spot platinum prices opened this week at $1,507.50 and ended the week down $27.50 at $1,480.00. Some of the most highly sought platinum products this week included 1 oz. Pamp Suisse .999 Fine Platinum Bars, Platinum American Eagles and 1 oz. Scotia Bank .999 Fine Platinum Bars.
Palladium:
Spot palladium prices opened this week at $418.00 and ended the week down $16.70 at $401.30. This week, 10 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were popular with palladium investors.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we look at the Silver Austrian Philharmonic coins.
First minted by the 800-year-old Austrian Mint in 2008, the silver Austrian Philharmonic coin is the first silver bullion coin denominated in Euros, the legal tender of the European Union.
Elegant is the perfect word to describe this lovely and unusual silver bullion coin. These exquisite coins were created as a tribute to the world-renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.
Almost identical to the popular gold Austrian Philharmonic coins, a harmonious design of musical instruments represents the world famous orchestra on the reverse of this silver coin. The obverse depicts the Great Organ of the Golden Hall in Vienna's concert hall.
APMEX offers silver Austrian Philharmonic coins dated during the current year and in prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.
MSN Money stated Thursday that stocks plunged following the report that showed an unexpected rise in initial jobless claims. This caused the Dow Jones Industrial Index to drop below the 10,000 point mark for a short time. The precious metals market dipped as well, causing APMEX customers to take advantage of low spot prices as they scrambled to add to their gold, silver, platinum and palladium positions. Many customers may have viewed this retrenchment in prices as a short-term buying opportunity as they aggressively purchased all types of precious metal products.
The “I Heart APMEX” Video Contest kicked off this week and brought in dozens of video entries from the U.S. and Canada. APMEX fans rushed to get their entries in, some coming in within hours of the contest’s launch. Entrants are eligible for a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. Check out the contest rules and submit your video today! You have until 11:59PM (CST) on Valentine’s Day (February 14th) to submit your entry.
Gold:
Spot gold prices opened this week at $1,081.10. The high during the week was on Wednesday, February 3rd, at $1,125.80, while the low for the week was $1,042.50 and it occurred on Friday, February 5th. Gold ended the week down $13.30 at $1,067.80. This week, the most popular gold items included Gold American Eagles, 1 oz. .9999 APMEX Gold Bars and Gold Canadian Maple Leafs.
Silver:
Spot silver prices opened this week at $16.17. Silver reached a high of $16.95 on Wednesday, February 3rd, while the low for silver occurred on Friday, February 5th, at $14.62. Silver ended the week down $0.97 at $15.20. 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2010 Silver Canadian Maple Leafs were some of the most popular silver items sold by http://www.apmex.com/.
Platinum:
Spot platinum prices opened this week at $1,507.50 and ended the week down $27.50 at $1,480.00. Some of the most highly sought platinum products this week included 1 oz. Pamp Suisse .999 Fine Platinum Bars, Platinum American Eagles and 1 oz. Scotia Bank .999 Fine Platinum Bars.
Palladium:
Spot palladium prices opened this week at $418.00 and ended the week down $16.70 at $401.30. This week, 10 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were popular with palladium investors.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we look at the Silver Austrian Philharmonic coins.
First minted by the 800-year-old Austrian Mint in 2008, the silver Austrian Philharmonic coin is the first silver bullion coin denominated in Euros, the legal tender of the European Union.
Elegant is the perfect word to describe this lovely and unusual silver bullion coin. These exquisite coins were created as a tribute to the world-renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.
Almost identical to the popular gold Austrian Philharmonic coins, a harmonious design of musical instruments represents the world famous orchestra on the reverse of this silver coin. The obverse depicts the Great Organ of the Golden Hall in Vienna's concert hall.
APMEX offers silver Austrian Philharmonic coins dated during the current year and in prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.
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Market Recap 1/22/10
This week was a shortened trading week for the U.S. markets, due to a federal holiday on Monday.
Stocks slid for the third straight day Friday based on dissatisfaction over companies’ earnings and uncertainty about the President’s plans to limit the size of big banks and to end some of their risky trading practices. The Dow Jones industrial average also saw its largest two-day drop since June.
Rep. Barney Frank, D-Ma., chairman of the House Financial Services Committee, suggested that Fannie Mae and Freddie Mac should be done away with.
“This committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance, that’s the approach rather than the piecemeal one,” Frank said.
The government released unemployment figures for December, showing an increase in unemployment rates in 43 states. The rise in job losses was a quick change from November, when 36 states reported falling unemployment rates. “A lot of states that had started to add jobs (in November) gave up those gains in December,” said Sophia Koropeckyj, managing director at Moody’s Economy.com. Delaware, Florida, North Carolina and South Carolina reported record highs for jobless rates in December.
APMEX sales were very strong this week, due to the retreat in the price of gold. “Customers have taken advantage of the corrections in the price of gold, seeing the opportunity to buy low,” said Mike Garofalo, Vice President of APMEX.
Gold:
Spot Gold prices opened this week at $1,130.70. The high during the week was on Tuesday, January 19th, at $1,140.50, while the low for the week occurred on Friday, January 22nd, at $1,080.90. Gold ended the week down $37.20 at $1,093.50. This week, Gold American Eagles, Perth Mint Fractional Gold and 2009 1/10 oz. South African Gold Krugerrands remain in the forefront of investor’s minds.
Silver:
Spot Silver prices opened this week at $18.46. Silver reached a high of $18.80 on Tuesday, January 19th while the low for silver occurred on Friday, January 22nd, at $16.86. Silver ended the week down $1,41 at $17.05. This week, the most popular silver items included 1 oz. Silver American Eagles, 2010 1 oz. Silver Maple Leafs and 1 oz. APMEX .999 Fine Silver Rounds.
Platinum:
Spot platinum prices opened this week at $1,621.50 and ended the week down $69.00 at $1,552.50. Platinum American Eagles, 1 oz. Credit Suisse Platinum Bars and 1 oz. Pamp Suisse Platinum Bars were popular with platinum investors this week.
Palladium:
Spot palladium prices opened this week at $451.00 and ended the week down $17.80 at $433.20. Popular palladium products this week included 2009 Palladium Canadian Maple Leafs MS-69 NGC, 1 oz. .999 Fine Pamp Suisse Palladium Bars and Random Year 1 oz. Palladium Canadian Maple Leafs.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will examine the Austrian Philharmonic Gold coin.
First minted in 1989, the Austrian Philharmonic Gold coin was the most popular selling gold coin in the entire world during 1992, 1995 and 1996, according to the World Gold Council. Elegant is the perfect word to encompass this lovely and unusual coin. These exquisite coins were created as a tribute to the renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.
A harmonious design of musical instruments represents the world famous orchestra on the reverse of this gold coin. The obverse depicts the Great Organ of the Golden Hall in Vienna's concert hall. Many collectors and investors consider this to be one of the most beautiful designs of all gold bullion coins. The Austrian Philharmonic coin is struck in .9999 fine gold and is available in 4 sizes: 1 ounce, ½ ounce, ¼ ounce and 1/10 ounce. There is even a very special limited-edition 20-Ounce Philharmonic Gold coin available in very small quantities worldwide.
APMEX offers a great selection of Austrian Philharmonic Gold coins dated during the current year and in several prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.
Stocks slid for the third straight day Friday based on dissatisfaction over companies’ earnings and uncertainty about the President’s plans to limit the size of big banks and to end some of their risky trading practices. The Dow Jones industrial average also saw its largest two-day drop since June.
Rep. Barney Frank, D-Ma., chairman of the House Financial Services Committee, suggested that Fannie Mae and Freddie Mac should be done away with.
“This committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance, that’s the approach rather than the piecemeal one,” Frank said.
The government released unemployment figures for December, showing an increase in unemployment rates in 43 states. The rise in job losses was a quick change from November, when 36 states reported falling unemployment rates. “A lot of states that had started to add jobs (in November) gave up those gains in December,” said Sophia Koropeckyj, managing director at Moody’s Economy.com. Delaware, Florida, North Carolina and South Carolina reported record highs for jobless rates in December.
APMEX sales were very strong this week, due to the retreat in the price of gold. “Customers have taken advantage of the corrections in the price of gold, seeing the opportunity to buy low,” said Mike Garofalo, Vice President of APMEX.
Gold:
Spot Gold prices opened this week at $1,130.70. The high during the week was on Tuesday, January 19th, at $1,140.50, while the low for the week occurred on Friday, January 22nd, at $1,080.90. Gold ended the week down $37.20 at $1,093.50. This week, Gold American Eagles, Perth Mint Fractional Gold and 2009 1/10 oz. South African Gold Krugerrands remain in the forefront of investor’s minds.
Silver:
Spot Silver prices opened this week at $18.46. Silver reached a high of $18.80 on Tuesday, January 19th while the low for silver occurred on Friday, January 22nd, at $16.86. Silver ended the week down $1,41 at $17.05. This week, the most popular silver items included 1 oz. Silver American Eagles, 2010 1 oz. Silver Maple Leafs and 1 oz. APMEX .999 Fine Silver Rounds.
Platinum:
Spot platinum prices opened this week at $1,621.50 and ended the week down $69.00 at $1,552.50. Platinum American Eagles, 1 oz. Credit Suisse Platinum Bars and 1 oz. Pamp Suisse Platinum Bars were popular with platinum investors this week.
Palladium:
Spot palladium prices opened this week at $451.00 and ended the week down $17.80 at $433.20. Popular palladium products this week included 2009 Palladium Canadian Maple Leafs MS-69 NGC, 1 oz. .999 Fine Pamp Suisse Palladium Bars and Random Year 1 oz. Palladium Canadian Maple Leafs.
Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will examine the Austrian Philharmonic Gold coin.
First minted in 1989, the Austrian Philharmonic Gold coin was the most popular selling gold coin in the entire world during 1992, 1995 and 1996, according to the World Gold Council. Elegant is the perfect word to encompass this lovely and unusual coin. These exquisite coins were created as a tribute to the renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.
A harmonious design of musical instruments represents the world famous orchestra on the reverse of this gold coin. The obverse depicts the Great Organ of the Golden Hall in Vienna's concert hall. Many collectors and investors consider this to be one of the most beautiful designs of all gold bullion coins. The Austrian Philharmonic coin is struck in .9999 fine gold and is available in 4 sizes: 1 ounce, ½ ounce, ¼ ounce and 1/10 ounce. There is even a very special limited-edition 20-Ounce Philharmonic Gold coin available in very small quantities worldwide.
APMEX offers a great selection of Austrian Philharmonic Gold coins dated during the current year and in several prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.
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