Market Recap 9/17/10

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The Dow Jones Industrial Average ended on a relatively quiet note today amid a sea of disappointing economic news. The Consumer Price Index (CPI) rose for the second consecutive month although the underlying inflation rate was unchanged. The CPI rose 0.3%, due, in part, to higher gasoline and food prices. The underlying inflation rate remained unchanged.

The Census Bureau reported this week that the percentage of Americans living below the poverty line in 2009 was the highest it has been in 15 years.  This means that better than 1 in 7 Americans lives in poverty and that number could have been higher were it not for extended unemployment insurance or other forms of public assistance.

Gold Prices had a spectacular week as they marched towards the magical $1,300.00 per ounce plateau. Gold created new highs on Wednesday and Friday, recording a new all-time high of $1,283.60. Accelerating gold’s rise were inflation fears, a global economy that has fallen flat and the distinct possibility that the Federal Reserve may consider another round of “quantitative easing.” Silver broke through the $21.00 benchmark during the week as well.

Gold:
Spot gold prices opened this week at $1,248.00. The high during the week was on Friday, September 17th, at $1,283.60, while the low for the week occurred on Monday, September 13th, at $1,242.30. Gold ended the week up $27.70 at $1,275.70. This week, popular gold bullion products were 2010 1 oz. Gold American Eagles, 2010 1/10 oz. Gold American Eagles, 2010 1 oz. Gold Buffalos and 1 oz. Pamp Suisse .9999 fine Gold Bars.

Silver:
Spot silver prices opened this week at $19.92. Silver reached a high of $21.03 on Friday, September 17th, while this week’s low for silver occurred on Monday, September 13th, at $19.82. Silver ended the week up $0.88 at $20.80. Popular silver products this week were 2010 1 oz. Silver American Eagles, 2010 1 oz. Silver Canadian Maple Leafs, 1 oz. Sunshine Minting Silver Rounds, and 1/2 oz. Sunshine Minting Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,543.00 and ended the week up $77.00 at $1,620.00. 1 oz. Platinum Maple Leafs, 1 oz. Platinum American Eagles, 1 oz. Pamp Suisse Platinum Bars, were popular again this week with investors.

Palladium:
Spot palladium prices opened this week at $521.90 and ended the week up $23.10 at $545.00. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs remain very 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 will review the Chinese Gold Panda coins.

The Chinese Gold Panda coins are bullion coins that have been minted by the People’s Republic of China. The Chinese Mint began issuing these coins in 1982. The design of the Panda changes every year and these beautiful coins come in different sizes and denominations, ranging from 1/20 troy ounce to 1 troy ounce.

The obverse designs of the standard China Panda Gold and Silver coins depict the image of the Hall of Prayer for Good Harvest of the Temple of Heaven in Beijing— one of the most famous buildings in all of Chinese architecture.

The reverse designs depict the Panda—China’s rare and well-known animal—as the main motif.  Pandas are loved worldwide for their distinctive coloring, natural and unstrained appearance, meek temperament and innocence. The beauty of these coins make them a favorite among investors and collectors alike.

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187 thoughts on “Market Recap 9/17/10”

  4. Autumn Adventure Scavenger Hunt Day 3 Winners: Nathan, Farrell and Comet!

    The winners will be receiving an email later today.

    Head over to our YouTube page for today’s letters and giveaway. Watch our “2010 PCGS Black Diamond Gold Buffalo Coins At APMEX” video and fill in the mad lib to be entered to win one of two 1 oz. APMEX silver rounds. http://www.youtube.com/watch?v=5Fuc0eL_4lc

    Good luck everyone!

    APMEX

  13. Hi Apmex,
    Send me some of that good $21 ounce silver. I already have some of the cheap stuff.
    Thx

  16. Hello APMEX and it’s Scavenger Hunt!!! Silver and gold…silver and gold…muhahahahahahaha

    I appreciate what you guys do for us investors! It makes me all warm and squishy!! :)

  30. Okie dokie… Here is my reply to the scavenger hunt. I hope APMEX will just send us all a silver round or two. :)

  32. I really enjoyed the information in the market recap, and I am looking forward to this week’s wrap-up. Thanks for the contest.

  36. Not sure if I’m duplicating my entry and not sure how I got to where I am…logging my blog visit for day 3 of the APMEX Scavenger Hunt.

  39. Where the heck are the letters for today?

    Great contest by the way and a great way to measure impact of Twitter, FB, etc.

  40. This is fun. I hope I win some silver. I’m not real good at unscrambling letters, but I’ll give it a shot. Thanks APMEX!!

  46. I’ve been buying my gold and silver from APMEX for about a year now. I think the service and value is excellent. Thanks for the great contest.

  55. BLOG Suggestion: ADD a “HOME” button so you don’t have to use the “BACK” button to return to main APMEX page. [3rd day letters are: I, F, O].

  60. Was sure hoping this would not be as hard as Chinese algebra. APMEX definitely has spot on (pun intended) communication with their customer base.

  62. I really wish gold & silver would make a quick correction so I can buy a little more before it goes up any further!

  69. the contest is a good idea to drive people to research your site/business as well as precious metals.

  73. Commenting away. I came here just to get the clue.

    I appreciate the week-end market report, but I never let myself get distracted by the trees. I keep my eyes on the forest: The long-term trend of precious and industrial metals is UP, UP, and AWAY!

    • Agreed. I don’t know that I have ever posted a blog or read so much about APMEX…something must be working.

  82. Here are the clues for today’s letters in case you are having trouble locating our first post.

    APMEX Autumn Adventure Scavenger Hunt:
    Day 3 Clues:

    The first letter of the fourth word in the first sentence of the Market Recap 9/17/10 blog post.

    The first letter of the fifth sub-headline in the same Market Recap blog post.

    The second letter of the last word in the Silver Section of the latest Market Recap blog post.

    Be sure to leave your comments on this post to be entered to win in the daily prize drawing. We will randomly select three people who comment on this post to win a 1 oz. APMEX Silver Round!

    APMEX

  83. This is a nice diversion from my everyday humdrum work day…thank you for this fun treasure hunt APMEX!!

  85. APMEX is appreciated for giving the best investment opportunity to people’s hard earned money

    Thanks for that

  104. This is a very interesting way to have a contest, it makes it more entering. It would be great winning some silver.

  118. Very clever scavenger hunt. Long time customer, overall the very best prices. I was sad when you stopped selling some of the more escoteric coins but I understand the need to focus.\

    Good luck to all!

  128. Super Duper…..Love the Pandas….Love the Kangaroos….Love the hunt….Love the Silver…..

  139. These clues are getting very difficult to find. APMEX is not hard to find and we were referred by a long time customer of yours. We have been completely satisfied with your service.

  141. I’m not sure what kind of reply you are expecting to this post. But the letters for today are I, F and O.

  145. I am not sure how the previous letters relate to today’s but they are definately all scrambled.

  148. If I’m interpreting your ‘hints’ properly; The Autumn Adventure Contest; 3th day letters are: I, F and O

  149. APMEX beats all others hands down. I’ve been doing business with APMEX for many years and have had 100% satisfaction without one single problem.

    They are honest and of high integrity.

  150. APMEX Autumn Adventure Scavenger Hunt:
    Day 3 Clues:

    The first letter of the fourth word in the first sentence of the Market Recap 9/17/10 blog post.

    The first letter of the fifth sub-headline in the same Market Recap blog post.

    The second letter of the last word in the Silver Section of the latest Market Recap blog post.

    Be sure to leave your comments on this post to be entered to win in the daily prize drawing. We will randomly select three people who comment on this post to win a 1 oz. APMEX Silver Round!

    APMEX

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