Metal trading was relatively quiet this week as investors eagerly awaited news that might give the market a definite direction. However, a clear direction never fully materialized. Overall the equities market has been inching its way higher while playing tug of war between a bull and bear environment. The widely volatile equity market, declining oil prices and further weakening of the dollar continues to fuel fears that economic turmoil and inflation risks are still on the horizon. Precious metals continue to provide a safe haven for concerned investors.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $870.20. The high during the week was at the close of the market on Friday April 24, at $915.00, while the low for the week occurred on Monday, April 20 at $865.60. Gold ended the week up $44.80 at $915.00. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/10 ounce Austrian Philharmonics, 1 gram APMEX Gold Bars, and 1 ounce Pamp Suisse Gold Bars were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened last week at $11.85. Active trading pushed spot silver to a high of $12.97, at the close of the markets on Friday, April 24, while the low for silver occurred also occurred on Monday, April 20, at $11.72. Silver ended the week up $1.12 at $12.97. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 10 ounce APMEX Silver Bars, 2009 1 ounce Silver Philharmonics and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com.
Platinum:
Spot Platinum prices opened last week at $1,210.50, and ended the week down at $1,183.00. Platinum had a loss of $27.50 through the week. Investors were eager to purchase Platinum products this week. The most popular of these items were: 5 gram Credit Suisse Platinum Bars, 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $233.60, and ended the week with a gain of $5.20 at $238.80. Palladium products continue to be in great demand. This week the 1 oz. Pamp Suisse Palladium Bars and 10 ounce Pamp Suisse Palladium Bars were in high demand.
Numismatics:
The current rare coin market is strong and has a depth of support not seen in recent years. While we have been singing the praises of the yellow metal in all forms – Bullion and Pre-1933 US Gold Coins – for the past few months, other market segments are continuing to grow as well.
Dealer bid levels for common date Certified Morgan Silver Dollars in MS63, MS64, MS65 and MS66 are all bidding higher on the dealer networks as more buyers are taking part and raising their bids. There is additional strength and interest in Trade Dollars, and Liberty Seated Dollars as well.
One further area of the marketplace that is very strong is in the new 2009 Lincoln Cents! Because the reverses of these coins has not changed since 1959, there is incredible demand for rolls of these coins. Additionally, these coins have the lowest mintage of any “struck-for-circulation” Lincoln cent in the last 40 years!
Weekly Market Recap 4/17/2009
Precious metals prices were on a downtrend this week. Stock performances and U.S. dollar gains against the Euro helped to keep spot prices low, but didn’t encourage active trading throughout the week.
On Thursday, the US Labor Department reported first time claims for state unemployment fell to lows unseen since January. The banking sector reported better than expected earnings, which further contributed, to the sluggish metals market this week. Investors are closely watching developments in the financial sector, as many believe the governments’ bailout plans will continue the march towards long-term inflation.
On Friday, April 17, APMEX surprised patient investors with a 99¢ Spring Silver Sale, with 23 different silver products priced at just 99¢ over spot – many in any quantity. Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $882.90. The high during the week was on Wednesday April 15 at $902.10, while the low for the week occurred at the close of business Friday April 17 at $871.00. Gold ended the week down $11.90 at $871.00. This week, 2009 1 oz Gold American Eagles, 1/10 ounce 2009 Austrian Philharmonics, 1/10 oounce Gold Maples, 1 oz. Pamp Suisse Bars,
2009 1 oz. Austrian Philharmonics and 1 gram Sunshine Mint Gold Bars were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $12.36. Sluggish trading pushed spot silver to a high of $12.92, on Thursday April 16, while the low for silver occurred at the close of the market on Friday April 17, at $11.97. Silver ended the week down .39 cents at $11.97. Late in the week, the APMEX 99¢ Silver Sale rallied investors to take advantage of low spot prices. 2009 Silver American Eagles, 2009 Silver Canadian Maples, 2009 1 ounce Silver Philharmonics, 1 oz. Walking Liberty Rounds , 2009 BU Mexican Libertads and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com. Hot items during the 99¢ Silver Sale included: 1 oz Silver Buffalo Rounds, 5 oz Silvertowne bars, 10 oz Morgan Design bars and the all new APMEX Kilo silver bars.
Platinum:
Spot Platinum prices opened this week at $1209.00, and ended the week up at $1218.10. Platinum had a gain of $9.10 throughout the week. Platinum products continue to be in limited but stable supply. The most popular of these items were: 5 gram Credit Suisse Platinum Bars, 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 2009 1 oz. Platinum Canadian Maple Leafs. APMEX just received a new shipment of 1/2 oz Platinum American Eagles and 1 oz Platinum American Eagles.
Palladium:
Spot Palladium prices opened this week at $234.95, and ended the week up$3.05 at $238.00. This week the 1 oz. Pamp Suisse Palladium Bars and 10 ounce Pamp Suisse Palladium Bars were popular with palladium minded investors.
Numismatics:
The rare coin market of 2009 continues to move upward rapidly. Although not all segments of the market are participating, Pre-1933 US Gold Coins, BU rolls of coins, Statehood Quarters, and Morgan Silver Dollars are all showing scattered plus signs on the dealer trading networks. These are the “hot” areas of US numismatics at the current moment.
The Classic Commemorative Coin Series is showing mixed results – with several plus signs and a few offsetting minuses. But the overall strength of these under-appreciated coins is very good. Modern Mint Sets are in strong demand! Dealers are aggressively buying them because their customers are demanding them!
The coin market continues to show strength, especially when viewed through the prism of our very weak US dollar, the high unemployment figures, and the overall weak business sector. Compared to those economic indicators, the rare coin market is very bullish!
On Thursday, the US Labor Department reported first time claims for state unemployment fell to lows unseen since January. The banking sector reported better than expected earnings, which further contributed, to the sluggish metals market this week. Investors are closely watching developments in the financial sector, as many believe the governments’ bailout plans will continue the march towards long-term inflation.
On Friday, April 17, APMEX surprised patient investors with a 99¢ Spring Silver Sale, with 23 different silver products priced at just 99¢ over spot – many in any quantity. Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $882.90. The high during the week was on Wednesday April 15 at $902.10, while the low for the week occurred at the close of business Friday April 17 at $871.00. Gold ended the week down $11.90 at $871.00. This week, 2009 1 oz Gold American Eagles, 1/10 ounce 2009 Austrian Philharmonics, 1/10 oounce Gold Maples, 1 oz. Pamp Suisse Bars,
2009 1 oz. Austrian Philharmonics and 1 gram Sunshine Mint Gold Bars were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $12.36. Sluggish trading pushed spot silver to a high of $12.92, on Thursday April 16, while the low for silver occurred at the close of the market on Friday April 17, at $11.97. Silver ended the week down .39 cents at $11.97. Late in the week, the APMEX 99¢ Silver Sale rallied investors to take advantage of low spot prices. 2009 Silver American Eagles, 2009 Silver Canadian Maples, 2009 1 ounce Silver Philharmonics, 1 oz. Walking Liberty Rounds , 2009 BU Mexican Libertads and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com. Hot items during the 99¢ Silver Sale included: 1 oz Silver Buffalo Rounds, 5 oz Silvertowne bars, 10 oz Morgan Design bars and the all new APMEX Kilo silver bars.
Platinum:
Spot Platinum prices opened this week at $1209.00, and ended the week up at $1218.10. Platinum had a gain of $9.10 throughout the week. Platinum products continue to be in limited but stable supply. The most popular of these items were: 5 gram Credit Suisse Platinum Bars, 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, and 2009 1 oz. Platinum Canadian Maple Leafs. APMEX just received a new shipment of 1/2 oz Platinum American Eagles and 1 oz Platinum American Eagles.
Palladium:
Spot Palladium prices opened this week at $234.95, and ended the week up$3.05 at $238.00. This week the 1 oz. Pamp Suisse Palladium Bars and 10 ounce Pamp Suisse Palladium Bars were popular with palladium minded investors.
Numismatics:
The rare coin market of 2009 continues to move upward rapidly. Although not all segments of the market are participating, Pre-1933 US Gold Coins, BU rolls of coins, Statehood Quarters, and Morgan Silver Dollars are all showing scattered plus signs on the dealer trading networks. These are the “hot” areas of US numismatics at the current moment.
The Classic Commemorative Coin Series is showing mixed results – with several plus signs and a few offsetting minuses. But the overall strength of these under-appreciated coins is very good. Modern Mint Sets are in strong demand! Dealers are aggressively buying them because their customers are demanding them!
The coin market continues to show strength, especially when viewed through the prism of our very weak US dollar, the high unemployment figures, and the overall weak business sector. Compared to those economic indicators, the rare coin market is very bullish!
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