Category Archives: APMEX. Perth Mint

Market Recap 2/4/11

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Monday began with the news of rioting in Egypt and this news story continued to dominate throughout the week. At first, demonstrations were forceful, but without violence. Protestors and news reporters could walk about Cairo’s Tahrir Square without fear of attack. This all changed Wednesday, when supporters of President Mubarak (widely believed to be paid thugs), systematically infiltrated the square and injected violence into the equation. Even news reporters came under attack causing them to go into hiding and broadcast from hidden locations. Thursday evening, there were no live broadcasts from Tahrir Square.

On Monday, President Obama began to walk the tightrope between the US need for Egyptian support in the Middle East and President’s Mubarak dictatorial regime that is clearly contrary to US values. Staying as far away as possible from asking President Mubarak to step down, President Obama expressed concerns as to how President Mubarak treated his people. By Friday, The US became much more open about the need for a transition. Although still not publically calling for President Mubarak to step down, there is much speculation this has in fact occurred behind the scenes. The US has clearly called for a transition of power and this transition needs to happen soon.

One would think that the Egyptian crisis would have driven precious metal prices up sharply, but it did not. It was as if the market was ignoring the news. Stocks went up, oil went up, but precious metal prices languished. Then on Thursday, Fed Chairman Ben Bernanke came out saying that although the economy is showing signs of improvement, it is still needs life support from the Fed QE2 program. He further stated that, “There will not be full recovery until there is job creation”. Within 20 minutes precious metal prices rose significantly to where they are now. By the way, Friday’s job report was very disappointing, but the stock market can still depend on the Fed. We are still kicking the can down the road, and there will be a price to be paid.

Gold:
Spot Gold prices opened this week at $1,339.60. The high during the week was on Friday, February 4th, at $1,361.00, while the low for the week occurred on Monday, January 31st, at $1,323.60. Gold ended the week up $10.00 at $1,349.60. This week, the most popular Gold bullion products were 2011 Gold American Eagles, 1 oz. Pamp Suisse Gold Bars, and 2011 1 oz. Gold Maple Leafs.

Silver:
Spot Silver prices opened this week at $28.03. Silver reached a high of $29.29 on Friday, February 4th, while this week’s low for Silver occurred on Monday, January 31st, at $27.52. Silver ended the week up $1.15 at $29.18. The most popular Silver products on APMEX.com this week were 2011 Silver American Eagles, 2011 Silver Maple Leafs, 1 oz. Silver Buffalo Rounds and 10 oz. APMEX Silver Bars.

Platinum:
Spot Platinum prices opened this week at $1,797.20 and ended the week up $51.00 at $1,848.20. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $818.00 and ended the week down $1.00 at $817.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the 2011 “Year of the Rabbit” Silver Lunar coins from the Perth Mint.

The most important of the traditional Chinese holidays, the Chinese New Year, also known as the Chinese Lunar New Year, has become a much-celebrated event not only in China, but also in countries all around the world. Beginning on the first day of the first month of the traditional Chinese calendar, the festival of the New Year is a centuries-old celebration that includes red decorations, gifts (Gold is a favorite), food, clothing, and corporate family preparations for luck and good fortune in the upcoming year.

This year, 2011, is the Year of the Rabbit in the traditional Chinese calendar. According to Chinese tradition, the Year of the Rabbit will be a welcome change after the year of the fierce Tiger in 2010. The emblem of longevity in Chinese mythology, the Rabbit represents grace and kindness and will usher in a period of peacefulness and wise counsel in 2011.

In order to celebrate the Chinese Lunar New Year, APMEX offers Year of the Rabbit Lunar Coins that commemorate this annual event in the Chinese calendar. First, the Lunar Coins are a great addition to any coin collection since the theme of the coin’s design draws its inspiration from China’s ancient Lunar Calendar, whose stories indicate that the twelve animals in the calendar have a profound influence over those born under their “rule”. Offered in both Gold and Silver, the Year of the Rabbit Lunar Coins commemorate the Rabbit’s place in the lunar calendar.

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Bonzer II Trip Winner Announced By APMEX!

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We know that some of you have been anxiously awaiting the announcement of the Grand Prize Winner for the second ‘Escape To Australia’ trip giveaway.

Before we tell you who won, let us say a huge THANK YOU, to all of our customers and fans who participated in this giveaway! We had tons of qualified entries from every state in the Union (and some from our Military Sons and Daughters stationed overseas as well.)

Wally Kang Aroo, our Australian Tour Guide, pulled the winning name and we called the lucky winner to congratulate him on this once in a lifetime vacation getaway for two. We are very pleased to announce that Brad D., from Colorado Springs, Colorado, has accepted his award today. We will be working with Brad to arrange his air travel to gorgeous Perth, Australia, where he will enjoy some time in the Great Australian Outback, thanks in part to the Perth Mint.

This contest ran from September 9, 2010 through October 15, 2010 on http://www.apmex.com/. The grand-prize included round trip airfare for two to Perth, Australia, provided by the American Precious Metals Exchange. Also included are luxury hotel accommodations, $1,000.00 AUD in spending money and a “Behind the Scenes” VIP tour of the Perth Mint, thanks to the world-famous Perth Mint!

Congratulations Brad! Have a bonzer-good time on your walk about trip at the Perth Mint! Don’t forget to write and tell us all about your trip!

Market Recap 4/30/10

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The drama in Europe continued this week as the European Union tried to put together a bailout package for Greece. With the country on the brink of default, Germany changed its position multiple times this week, first stating it would not help Greece and then saying it would support the bailout effort. Gold has been a beneficiary of the turmoil in Europe, with investors piling into gold as a safe-haven investment, according to Forbes. Since last Friday, gold has gained more than $30 per ounce despite strength from the U.S. Dollar.

Bloomberg reported that Portugal had its credit rating cut two steps by Standard & Poor’s as contagion from Greece’s debt crisis spreads through the Euro Region. S & P lowered its long-term local and foreign currency ratings to A- from A+, it said in a statement today. “The outlook on Portugal is negative, reflecting the risk of a further downgrade,” S & P said.

In an interview with CNBC, Vice Chairman of Blackstone Advisory Services Byron Wien predicted gold will reach $1,500 an ounce by the end of this year. “Most people’s assets are in financial instruments and gold is an insurance against financials and the erosion of the value of financials, the dollar, and the purchasing power of paper currencies,” he explained.

This week, APMEX announced its 77 Cent Spring Silver Sale. Until Sunday, May 2, 2010, at 11:59 p.m. (CST), jump into Spring and take advantage of spectacular savings on 1 oz. Silver Buffalo Rounds and 1 oz. Sunshine Mint Silver Rounds at $0.77 per ounce over spot in any quantity!

Gold:
Spot gold prices opened this week at $1,160.40. The high during the week was on Friday, April 30th, at $1,182.30, while the low for the week occurred on Tuesday, April 27th, at $1,146.50. Gold ended the week up $21.90 at $1,182.30. This week, gold investors concentrated their purchases on 2010 Gold Buffalos, Gold American Eagles and South African Krugerrands.

Silver:
Spot silver prices opened this week at $18.36. Silver reached a high of $18.67 on Friday, April 30th, while the low for silver occurred on Wednesday, April 28th, at $17.84. Silver ended the week up $0.31 at $18.67. This week, the most popular silver items included Silver American Eagles, 1 oz. APMEX .999 Fine Silver Rounds and Silver Canadian Maple Leafs.

Platinum:
Spot platinum prices opened this week at $1,750.00 and ended the week down $4.40 at $1,745.60. Platinum American Eagles, 1 oz. Pamp Suisse Platinum Bars and 1 oz. Credit Suisse Platinum Bars were popular with platinum investors this week.

Palladium:
Spot palladium prices opened this week at $567.00 and ended the week down $8.20 at $558.80. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week, we are excited to highlight the Gold Australian Series 1 Lunar coins.

This series of Australian legal tender coins was minted at the world-renowned Perth Mint in Perth, Australia. From 1996 through 2007, these incredible coins were minted to celebrate Chinese New Year, which is a large and popular celebration in Australia and around the Pacific Region.

The Australian Lunar coin motif draws its inspiration from the animals featured in China’s ancient Lunar Calendar. Central to this lunar calendar are stories and legends of the 12 lunar animals and their respective characteristics according to Chinese folklore. Each animal is said to have a profound influence over those born under its ‘rule’ in the Chinese Zodiac. Each year, the reverse design of these beautiful coins is changed to match the animal featured for the year in the 12-year cycle of the Chinese Zodiac. The obverse of these coins depicts Queen Elizabeth II.

Each coin contains .9999 pure gold and carries an Australian legal tender face value. The coins have been available in a wide variety of different weights, including 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, and larger sizes. These coins are a great way to acquire and invest in precious metals.

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Market Recap 3/5/10

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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.

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APMEX Bonzer Trip Winner Announced!

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For those of you who have been following the APMEX – Perth Mint ‘Escape to Australia’ trip give away, we have a grand-prize winner!

We are very pleased to announce that Emmanuel R., a proud service member of the United States Army, has accepted his award today as the grand-prize winner of this once-in-a-lifetime vacation give away.

Wally Kang Aroo, our Australian Tour Guide, pulled the winning name and Scott Thomas, President and CEO of APMEX, called the lucky winner to congratulate him personally.

Emmanuel and his wife are very excited to win this trip. They are both looking forward to a second honeymoon in Perth, Australia, care of APMEX and The Perth Mint.

This contest ran from September 1, 2009 through September 30, 2009 on http://www.apmex.com/. The grand-prize included round trip airfare for two to Perth, Australia, provided by the American Precious Metals Exchange. Also included are luxury hotel accommodations, $1,000.00 AUS in spending money, and a “Behind the Scenes” VIP tour of the Perth Mint, thanks to the world-famous Perth Mint!

Once again, Congratulations Emmanuel! Have a bonzer time on your walk about trip at the Perth Mint!