12.9.11 Weekly Recap

Gold this week was heavily influenced by the European debt crisis, with prices rising or falling based on the latest the news from Europe.  Tuesday morning saw gold reach its lowest point for the week, with the price dropping as low as $1,708.  The highest price for gold during the week came late Wednesday afternoon, when the precious metal rose to more than $1,744.  By week’s end, Gold was responding to the European news positively, rising along with the euro.  Oliver Pursche, co-portfolio manager of the GMG Defensive Beta Fund, said, “When you have so much retail and ETF interest (in Gold), you’re not going to trade on the fundamentals on the short term. (But I) would not be surprised to see higher Gold prices longer term.”

Monday started with the focus still on the debt crisis in Europe, with Gold prices dipping and U.S. stock futures rising amid optimism regarding a resolution to the eurozone debt crisis.  With a European Union summit planned for the end of the week, Rockwell Global Capital’s Peter Cardillo said, “The (stock) rally continues, but it’s all about Europe and any disappointing news out of Europe later in the week could mean an about-face for this market.”  French President Nicolas Sarkozy and German Chancellor Angela Merkel found themselves under fire to agree on a “master plan” regarding the budget for the eurozone. They announced their proposal for the “Stability and Growth Pact” treaty to assist with strengthening the eurozone financial policy to reinstate confidence in the shared currency.  Commerzbank, in response to news that the European Central Bank (ECB) was expected to cut interest rates, stated in a note, “This should lend support to the Gold price, since the opportunity costs of holding Gold will remain low.”  Also, the Institute for Supply Management (ISM) reported that the U.S. service sector performed at a slower pace than expected in November.  Standard & Poor’s (S&P) came out with very harsh wording in its credit rating review for the eurozone, warning fifteen countries (including France and Germany) about a possible credit downgrade.

On Tuesday, optimism that eurozone leaders would come up with a concrete plan to shore up the debt crisis continued to spread, spurred on by investor belief that Standard & Poor’s (S&P) downgrade warning to 15 European countries the day before would help that process along.  In a commentary written for Marketwatch, author Satyajit Das stated, “What happens in Europe will not stay in Europe.  The shock will be rapidly transmitted through trade, investment and the financial system to the rest of the world.  It may truncate the nascent U.S. economic recovery.”  There was fear that the European Financial Stability Facility also might face a downgrade of its respected credit rating if even one of the bailout fund’s six guarantors (Germany, France, the Netherlands, Finland, Austria, and Luxembourg) was downgraded from a rating of AAA.  U.S. Treasury Secretary Tim Geithner was in Germany Tuesday to attend the three-day eurozone summit aimed at finding a European economic resolution.  He indicated his support for the German-French initiatives pushing closer European financial cooperation, and urged policymakers to look to central banks to help provide protection from the growing debt crisis.

Wednesday saw many investors waiting on the results from Thursday’s European Central Bank meeting, in which the result is expected to be a lowering of interest rates.  The big card on the table for the meeting was the proposed new EU treaty that would include tougher budget rules.  Treasury Secretary Timothy Geithner headed to France to continue promoting the American agenda while meeting with French, Italian, and Spanish officials.  Geithner stated, “I have a lot of confidence in what the president of France and the minister are doing, working with Germany to build a stronger Europe.”  The U.S. senate appeared to put “too-big-to-fail” banks back on its radar, with Senator Sherrod Brown holding a hearing Wednesday regarding “new oversight authority to shield Main Street from Wall Street megabank risk.” Comments made by German officials and the new economic figures had diminished hopes that a resolution would come out of the EU summit planned for Friday.

News about the European Union drove major market movement during this past week. Precious metals prices and U.S. stocks were both down Thursday morning after the announcement from the European Central Bank (ECB) that it would be cutting its key lending rate from 1.25% to 1%, while also introducing further measures in an effort to ease lending for banks.  Investors appeared to be hoping for news that the ECB would aggressively begin to buy bonds.  However, ECB President Mario Draghi announced the oppositeEuropean Union leaders meeting in Brussels came to an agreement on new fiscal rules for stricter budget discipline in the eurozone.  However, EU leaders were unable to come to an agreement on how to shore up the EU’s future permanent rescue fund, and the looming question about whether any new agreement would require major changes to the EU treaty wasn’t even brought up.  French President Nicolas Sarkozy stated, “Never has the risk of Europe exploding been so big.” The German Chancellor Angela Merkel offered, “The euro has lost credibility, and this must be won back.  We will make clear that we will accept more binding rules.”  Not everyone was convinced.  Scotia Capital economist Alan Clarke said, “One step forward, two steps back.  The eurozone leaders might as well not bother.  Pack their bags, go home, enjoy the weekend, and do their Christmas shopping.”  In the U.S., weekly jobless claims fell by 23,000 to 381,000, a better number than the expected drop of 9,000.

By Friday, after overnight talks in Belgium, 23 European nations (including all 17 eurozone members) were planning on a new intergovernmental treaty for fiscal discipline, which would include caps on Gross Domestic Product deficits, consequences for deficits exceeding 3% of GDP, additional contributions to the International Monetary Fund, and other features.  However, not every EU member was on board for a revision of the treaty.  British Prime Minister David Cameron, after telling journalists present that Britain “would never join the euro,” argued for regulatory exemptions that would protect the United Kingdom’s financial services industry. He said that the ideas proposed by French President Sarkozy and German Chancellor Merkel were not something he could “in good conscience” take back to the UK and put to a vote in parliament.  In response, President Sarkozy said, “Our British friends made unacceptable demands.”  Also on Friday, Moody’s Investors Service downgraded three French banks based on the continued negative economic outlook in Europe, explaining, “The probability that the (banks) will face further funding pressures has risen in line with the worsening European debt crisis.”

WEEKLY SPOT PRICES

Gold: Spot Gold prices opened this week at $1,735.00. The high was on Thursday, Dec. 8th at $1,760.50, while the low for the week occurred on Friday, Dec. 9th at $1,704.90. Gold ended the week down $22.10 at $1,712.90. 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 $32.36. Silver reached a high of $33.09 on Monday, Dec. 5th, while this week’s low for Silver occurred on Thursday, Dec. 8th at $31.43. Silver ended the week down $0.08 at $32.28. 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 $1,533.60 and ended the week down $16.60 at $1,517.00. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium: Spot Palladium prices opened this week at $643.80 and ended the week up $43.50 at $687.30. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

2011 Kilo Silver Aztec Calendar coin

Honor the rich heritage of Mexico and its people with the 2011 Kilo Silver Aztec Calendar coin, now $100 off the regular price. With a full 32.15 oz. of .999-fine Silver, these incredibly detailed coins were minted in limited quantities. APMEX ships them with a magnifying glass, mint-issued box and certificate of authenticity. Order yours today, while supplies last.

Harder to Find than Many Kilo Coins

The Sun Stone (also known as the Aztec Calendar) was unearthed in Mexico in 1790. The original Sun Stone measures 12 feet in diameter and weighs 24 tons. The Banco de Mexico minted only 1,500 of the 2011 Kilo Silver Aztec Calendar coins.

Given the coin’s large size, Banco de Mexico was able to recreate this historic artifact in stunning detail. The 2011 Kilo Silver Aztec Calendar coin:

  • Comes with a mint-issued box and certificate of authenticity with a unique serial number
  • Includes a magnifying glass so you can fully appreciate the coin’s beauty
  • Packaged in a beautiful, laser-etched wooden display box

The front of the coin features the Mexican national shield (an eagle on a cactus with a snake in its beak) surrounded by previous Mexican national shields used throughout history.

Order Silver online today at APMEX.com!

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APMEX Commentary via RSS feed and the APMEX Blog via RSS feed.

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11.23.11 Weekly Recap

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APMEX wishes you a

Happy Thanksgiving!

Markets posted significant losses this week because of the worsening European crisis, negative reports on the U.S. economy and Congress’ failure to agree on budget cuts. Gold dipped below $1700 on Monday but rebounded on Tuesday as investors chose Gold as their safe haven asset. Stocks have continued their run of losses; the S&P 500 posted a loss for the sixth straight trading day on Wednesday as the U.S. markets prepare to go on holiday for Thanksgiving.

The lack of an agreement among lawmakers in Washington raised the speculation that further downgrades to the U.S. credit rating could be coming, as well more large losses in equity markets. “Failure to reach agreement on at least the minimum required savings will reflect poorly on Congress and the S&P 500 could fall by 10 percent to 1,100 percent,” said David Kostin, an Goldman Sachs equity strategist. Kostin said,“The wide range of possible outcomes on both the super committee process and the unstable political economy in Europe drives our view that investors should assume the worst while hoping for the best.” Daniel Clifton, policy strategist with Strategas Research, stated, “We would expect further downgrades, a first downgrade from Moody’s and Fitch and possibly a second downgrade from S&P.”

The U.S. Commerce Department reported that the gross domestic product (GDP) grew at a less-than-projected rate of 2% from July to September. With the S&P 500 hitting its most prolonged slump in nearly four months, there is continued speculation that the Federal Reserve will provide another round of stimulus in response to this country’s sluggish economic growth. Peter Boockvar, an equity strategist at Miller Tabak & Co., messaged his clients about the possibility of QE3. He wrote, “The bottom line with the Fed at this point is when they embark on QE3, as the top people there seem to want it. Whether they couch it in future economic conditions or not, the result is still the same:  printing money that they think will create a better environment for economic growth that they haven’t been able to achieve.”

Even Germany is not immune from the world’s aversion to risk. At an German bond auction, few traders showed interest in Germany’s debt, expressing concern that Europe is a risk. “[I]f even Germany cannot attract buyers, then the structural negatives are even worse than we thought,” said Jeremy Stretch, CIBC currency strategist. “The German bond auctions were the straw that broke the euro’s back,” said Kathy Lien, director of currency trading at GFT Forex.  “German bonds are normally perceived as the safest investment in Europe, so if investors aren’t willing to buy German bonds, then Europe is really in trouble.”

In the Middle East, Egyptians are protesting their new regime with deadly results; however, the Arab Spring has toppled another leader. Yemeni President, Ali Abdullah Saleh, has signed a power-transferring deal with the six-nation Gulf Cooperation Council.  Yemen has joined Tunisia, Egypt and Libya in bringing about regime changes this year.  In a statement today, Saleh said, “We will be cooperative. … It is not the signing that is important; what matters are the good will and the start of serious and faithful work for real partnership to rebuild.”

Gold was pushed down this week, in part, by a stronger dollar brought on by a flight to cash in all asset classes.  The market is in a completely ‘risk-off’ mentality today, and Gold hasn’t been seen as a flight-to-safety vehicle lately,” Bill O’Neill, a partner at Logic Advisors.  “I don’t think the long-term outlook has changed, though.”

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,678.70. The high was on Monday, Nov. 21st at $1,727.40, while the low for the week occurred on Tuesday, Nov. 22nd at $1,667.50. Gold ended the week up $17.10 at $1,695.80. 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 $31.11. Silver reached a high of $33.04 on Tuesday, Nov. 22nd, while this week’s low for Silver occurred on Monday, Nov. 21st at $30.65. Silver ended the week up $0.69 at $31.80. 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 $1,549.90 and ended the week down $1.40 at $1,548.50. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $587.60 and ended the week down $1.60 at $586.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

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Buy this beautiful Silver Proof Mexican Libertad proof, box and CoA for the low price of only $8.49 per coin over the spot price! Each coin contains 1 full ounce of .999 fine Silver. This 1986 1 oz Silver Proof Mexican Libertad is contained in an original mint capsule and handsomely displayed in a decorative box with a numbered Certificate of Authenticity.  The value in this offer is sure to please any collector.

On the obverse, the Mexican Libertad coin features Victoria, the winged goddess of victory in Roman religion. The design was inspired by “The Angel of Independence,” a famous gilded victory column erected in 1910 in a Mexico City roundabout to commemorate the centennial of the beginning of Mexico’s War of Independence. On this Silver proof coin, Victoria holds a laurel wreath and a broken chain, symbolizing freedom. Behind Victoria are the two iconic volcanoes Popocatepetl and Iztaccihuatl, which are steeped in Mexican lore. The legend of “Lover’s Peaks” recalls the Pre-Columbian tale of two lovers whose romance came to a tragic end. The attractive reverse of the Libertad displays the Seal of the United Mexican States, with a Mexican golden eagle perched on a cactus and clutching a snake with its beak and talons.

Buy Silver Proof Libertads today at APMEX.com!

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11.18.11 Weekly Recap

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The U.S. debt passed the $15 trillion mark this week.  What does a trillion dollars look like?  A trillion is 1 million multiplied by 1 million. 1,000 billion dollar bills in your pocket amounts to $1 trillion which is understandably inconceivable to most people. Americans should be alarmed about this $15 trillion debt when we learn that the ratio of U.S. debt to its GDP is now 102% and rising.  When the debt-to-GDP ratio of a country hits 90%, it begins to become a drag on future economic growth.  If this ratio climbs to 100% or higher, the economic growth becomes nearly impossible.

It appears that until Europe is fixed, its headlines will continue to drive the markets for the foreseeable future Robert Pavlik, Banyan Partners chief market strategist, expressed,“We’re capped, at least until we can knock Europe off the front page.” Gold fell more than $50/oz on Thursday as concerns of expanded contagion from the euro zone crisis caused large selloff in almost every market. There is a lot of fear, warranted or not, over the exposure of U.S. banks to the debt crisis in Europe.  The concern is not over any of the countries we’ve worried about over the past few months; the concern is the exposure of U.S. banks to French and British debt.  The exposure to Greece, Ireland, Italy, Portugal and Spain totaled a relatively manageable $50 billion as of Sept. 30th; however, the exposure to French debt is approximately $188 billion and exposure to British debt is approximately $225 billion.

German Chancellor Angela Merkel said that Europe could be facing its toughest hour since WWII.  Greece and Italy both have new leaders but this does little to nothing in itself to solve the problem.  Both new leaders are rushing to form new administrations and coalitions to stave off the damage of escalating debt problems.  “Europe is in one of its toughest, perhaps the toughest, hour since World War II,” Merkel told her conservative party in Leipzig.  “If the euro fails, then Europe fails, and we want to prevent, and we will prevent, this.  This is what we are working for, because it is such a huge historical project,” Merkel said.  Investors continue to look for decisive action from euro zone leaders.

This time of year, hedge funds and other investment firms are required to make regulatory filings with the SEC to report their holdings.  These reports can give an indication as to the outlook of some of the world’s savviest investors.  It appears that many are cautiously optimistic but are still avoiding risk, mainly due to fears of a contagion from Europe’s financial woes.  Ryan Detrick, senior analyst at Schaeffer’s Investment Research, said, “We still think it makes sense to be cautiously bullish here.  Don’t go overboard, obviously, because those Europe concerns are clearly still relevant.”

In an interview on Wednesday, Christopher Waller, research director for the St. Louis Federal Reserve Bank, warned that economic recovery in the U.S. is likely to be a process that will take several years and that the Federal Reserve can do little to shorten it.  “Something’s happened in U.S. labor markets that we can’t overcome,” he said, adding, “No matter what we do, recovery is going to be slow.” Bullard has said the Fed shouldn’t engage in any additional easing of monetary policy unless the U.S. economy derails from its current modest growth, stating, “There’s no point in trying to say, ‘Cure cancer with monetary policy.’ It’s just not possible.”

Meanwhile, Chicago Fed President Charles Evans is pushing for a commitment from the Fed to do more to decrease the nation’s high unemployment rate.  Evans, who has been pushing for more aggressive action from the Fed for some time, said, “I just think this is the time to stretch the boundaries a little bit more and take a few chances.”  He is pushing for a plan that involves asset purchases (some form of quantitative easing (QE) as well as very low interest rates until the unemployment rate drops below 7% or until inflation rises above 3%.  At the most recent meeting of the Federal Open Market Committee, Evans was the lone dissenter on the panel who favored more aggressive action, including a third round of QE.  Now, two more Fed presidents have released statements supporting Evans’ ideas.  But if Evans gets his way, how will the stimulus be paid for?

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,778.40. The high was on Monday, Nov. 14th at $1,797.60, while the low for the week occurred on Thursday, Nov. 17th at $1,711.00. Gold ended the week down $50.40 at $1,728.00. 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 $34.10. Silver reached a high of $34.92 on Monday, Nov. 14th, while this week’s low for Silver occurred on Friday, Nov. 18th at $30.93. Silver ended the week down $1.64 at $32.46. 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 $1,646.40 and ended the week down $48.50 at $1,597.90. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $664.30 and ended the week down $57.80 at $606.50. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

100 Corona Gold Coins & Gold 50 Pesos

For decades, these Gold coins have remained a world favorite for people interested in Gold investments because the premiums charged for these coins are normally lower than for most other Gold bullion coins. The 100 Corona coin contains 0.9802 oz. of 21.6-karat Gold. The Corona coins were originally issued from 1908-14, bearing the date of mintage; after the death of Austrian Emperor Franz Joseph, the coins were imprinted with the commemorative date of 1915. The Austro-Hungarian 100 Corona coin is no longer minted. The 50 Pesos coins were minted in Mexico City. The Peso coin contains 1.2057 oz. of 90% Gold and 10% copper that strengthens the coin to endure the wear of circulation.

Increase your Gold portfolio in thrifty fashion by adding Mexican Gold 50 Pesos bullion coins and Austro-Hungarian Gold 100 Corona coins to your holdings. While supplies last, buy Gold 50 Pesos and 100 Corona coins at only $24.99 per ounce over the Gold spot price at APMEX.com.

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Weekly Recap 11.11.11

The fallout over the Greek prime minister’s resignation and continuing concerns over Italy’s political situation continue to permeate markets across the globe. “Gold is resuming its role as a safe-haven investment because of the problems in Europe,” said Donald Selkin, chief market strategist at National Securities Corp.  “It has also found good support from physical purchase.” The stock market “appears to be in no-man’s land and at the mercy of Europe’s news flow,” said senior strategist Alan Gayle of RidgeWorth Capital Management.

The times are extremely tricky in Greece, with Prime Minister Papandreou’s resignation and a coalition of leaders expected to push through the bailout.  This will be a monumental task, considering that the coalition has just four months before new national elections. Signs point to an uneasy transition, as opposition leaders are already skipping meetings.  Former Greek Finance Minister Stefanos Manos said, “The new prime minister will … not give the impression that he is in charge.  Everyone will be  looking to the two party leaders who will be running things behind the scenes. … The civil service won’t implement any decision, and everyone will be waiting for the election.”

“The daily battle is headlines from Europe (and) short-term profit taking, which keeps gold’s progression higher in check,” said Jeff Wright, managing director at Global Hunter Securities.  Among the other positive factors for Gold prices, Wright lists the budget crisis in the U.S., the devaluation of the dollar, and the fact that Gold prices are above the 50-day moving average. Wright added, “The solutions to Greece (and) Italy are all inflationary in nature; inflation is supportive of Gold as it erodes the value of currencies.”

The European news on Friday surrounded the impending resignation of Italian Prime Minister Silvio Berlusconi now that Italy has passed its austerity legislation.  The popular choice to assume leadership among Italian leaders is Mario Monti, a former EU competition commissioner.  Even with Berlusconi’s resignation, Italy’s problems will prove to be a tough fix.  Mario Baldassarri, chairman of the Senate Finance Committee, said, “The key political point for Italy is now answering the following question: Which government, with what wide majority, will be able to implement in a few days the structural reforms that we haven’t been able to
implement in the last 10 years?”

Christine Lagarde, managing director of the International Monetary Fund, said in a speech this week in Beijing, “If we do not act, and act together, we could enter a downward spiral of uncertainty, financial instability, and a collapse in global demand. Ultimately, we could face a lost decade of low growth and high unemployment.”  Her speech comes at the same time that European leaders are appealing to the Chinese government for aid in shoring up debt-ridden nations in the euro zone.  The remarks of a “lost decade” are a reference to Japan’s economic problems of the 1990’s, in which itbattled deflation, mounting debt, and painfully slow economic growth.  The origins of Japan’s lost decade are eerily similar to what the world faces today: massive debt and a bursting real estate bubble.

With the news about Italy, Greece and the euro zone, the U.S. and its pending financial crises have been pushed to the back burner.  This doesn’t mean the U.S. isn’t suffering from some current major economic issues.  Mohamed El-Erian, co-CEO of Pimco, spoke with CNBC about those issues.  “We used all of the wrong bullets.  We tried to throw money at the problem.  The issue is not money, the issue is that what we have are structural impediments, and structural challenges need structural  solutions.”  He went on to list the top five issues plaguing the U.S economy: housing, unemployment, public finances,  infrastructure and a clogged credit market.  He also stated, “Until we get movement on those five things, we’re at stall speed.”

Weekly Spot Prices

Gold:
Spot Gold prices opened this week at $1,791.40. The high was on Tuesday, Nov. 8th at $1,804.40, while the low for the week occurred on Thursday, Nov. 10th at $1,736.60. Gold ended the week down $0.40 at $1,791.00. 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 $34.89. Silver reached a high of $35.35 on Tueday, Nov. 8th, while this week’s low for Silver occurred on Thursday, Nov. 10th at $33.13. Silver ended the week down $0.22 at $34.67. 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 $1,660.00 and ended the week down $12.90 at $1,647.10. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $661.50 and ended the week up $1.50 at $663.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.

Silver Bars: Multiple Name Brands and Multiple Sizes

Take advantage of today’s low Silver prices— and a special offer of just $0.99 per oz. over spot—to add brand new Silver bars to your portfolio! Available in 1 oz., 5 oz. and 10 oz. sizes, these uncirculated, brand-name Silver bars are .999 fine. Order as many as you like in the size you prefer for the same low price for any quantity, while supplies last.

All Brand New

For investors who prefer new Silver products rather than secondary market items, these Silver bars are for you. These Silver bars are straight from the mint, featuring consistent designs from a variety of recognized brands.

  • Different sizes and price points to suit your investment goals and wallet
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  • Easy to sell since the name brands are widely recognized
  • Easy to stack and store
  • Convenient to ship

Buy Any Quantity

There’s no minimum purchase required to buy 1 oz., 5 oz. or 10 oz. Silver bars for $0.99 per ounce over spot. Buy through the APMEX secure website. When buying “random year coins,” you  can expect to receive dates of our choice.

Add to your Silver holdings with new Silver Bars for just 0.99 per ounce over spot!

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11.4.11 Weekly Recap

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Extreme volatility has continued to plague the stock and commodity markets this week as mixed news caused wild swings;  however, Gold prices are still near six-week highs. From uncertainty surrounding Greece to Italy’s sovereign debt concerns, bad reports about Europe dominated the news headlines. In the U.S., the unemployment picture improved. The Fed has some hope for the economy despite the collapse of a large investment firm due to its Euro zone investments losses.

MF Global, a multibillion-dollar commodities and derivatives trader, filed for Chapter 11 bankruptcy protection today due to losses created from Greek bonds. MF’s trading partners have already distanced themselves from the ailing company. The Federal Reserve suspended the firm’s status as a primary dealer today. CME Group also suspended MF’s trading privileges. Jack Scoville, vice president at Price Futures Group said, “It’s a real mess, and it’s all hands on deck. MF is in the top five in clearing for commodities, so it’s not an insignificant thing.”

Greek Prime Minister George Papandreou shocked the euro zone on Tuesday when he called for a referendum on the bailout plan agreed upon last week. The Greek people have not approved of the established austerity measures. Economists at Barclays Capital wrote, “The latest brinkmanship creates new uncertainty in the eyes of markets which could be concerned that should the outcome of the referendum be negative, then either Greece would have to restructure its debt much more aggressively than the 50% currently envisaged … or it could even pave the way for an eventual exit from the euro area.” Markets fell sharply following this announcement. Papandreou withdrew his plan for the referendum vote later in the week but not before the Dow Jones Industrial Average had swung into triple-digits due to this uncertainty.

When the attention of the financial markets diverts from Greece, Commerzbank Chief Financial Officer Eric Strutz says that Italy shall be next. He said, “The whole stability of Europe depends on whether Italy gets its act together.” Italy was forced to accept International Monetary Fund oversight of implementation of austerity measures at the Group of 20 meeting this week. Italy is second only to Greece on the list of highest debt-to-gross domestic product ratio.

The Federal Open Market Committee meeting implied that the Fed is cautious but holding steady on further easing for now. Perhaps the Fed’s optimism was shored up by the promising jobs report that showed a gain of 110,000 jobs in October. This beat economists’ projections of 101,000 jobs gained. September’s results were also revised to show an even larger increase in jobs. It more sluggish than some economists had hoped, but the growth appeased the Fed. The Fed decided to take a wait-and-see approach which a number of analysts had predicted earlier in the day. Prior to Chairman Ben Bernanke’s news conference, the Fed reported, “Economic growth strengthened somewhat in the third quarter. … Nonetheless, recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. … There are significant downside risks to the economic outlook, including strains in global financial markets.”

NATO’s involvement in the Libyan revolution officially ended this week after seven months of support. This is yet another sign that the revolution is nearly complete. It has been called “one of the most successful” operations in NATO’s history, and NATO Secretary-General Anders Fogh Rasmussen met with Libya’s National Transitional Council (NTC) this week. The NTC expressed a desire for further NATO support post-war but Rasmussen stuck to the decision to end involvement.

Edel Tully, UBS strategist, explains that the recent purchases of Gold by central banks should be encouraging to investors. Tully wrote, “As Gold continues to take its cues from the euro and risk assets, consistent official purchases offers some comfort to investors, as they help provide the yellow metal with underlying support.”

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,725.80. The high was on Thursday, Nov. 3rd at $1,768.30, while the low for the week occurred on Tuesday, Nov. 1st at $1,681.20. Gold ended the week up $31.50 at $1,757.30. 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 $34.44. Silver reached a high of $35.45 on Monday, Oct. 31st, while this week’s low for Silver occurred on Tuesday, Nov. 1st, at $32.11. Silver ended the week down $0.25 at $34.19. 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 $1,610.30 and ended the week up $26.90 at $1,637.20. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $650.30 and ended the week up $9.30 at $659.60. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.

 Video: Gold and Silver Coin Jewelry

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Shop the new Jewelry section at APMEX for a wide selection of bracelets, cuff links, bezels, necklaces, money clips and key rings. The 14-karat yellow, white gold and sterling silver bezels are available in various styles and sizes to safely secure and display a variety of common collectible coins including the 1 oz. American Gold Eagle, South African Krugerrand, and Chinese Gold Panda.

Let others know that you value the beauty and value of precious metals with APMEX jewelry items.

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10.28.11 Weekly Recap

Gold is becoming an increasingly important portfolio balancing tool. The World Gold Council reports that even if investors hold alternative assets, they are not a substitute for the protection offered by a distinct allocation to Gold. The council commented,  “Even a small allocation to Gold, by mitigating risk, can consistently increase the returns from a portfolio.”

Gold has had a good week with solid positive gains. “Nobody really wants to go short on Gold,” said Bernard Sin of MKS Finance SA. “I don’t think Europe will be out of the woods yet.” Currently, there is physical demand in India due to the Diwali festival. Nick Trevethan of Australia & New Zealand Banking Group Ltd. said, “We’re seeing some progress in Europe, but the market’s been  disappointed before. There’s still a lot of good reasons to be holding Gold. The world is still relatively shaky; we’re a low interest rate environment in  many parts of the world.”

Leaders in the euro zone have agreed upon a plan to shore up Greece’s debt burden and to contain the debt crisis in the whole region. In the agreement, private bondholders will take a 50% write-down on their holdings of Greek debt, the European Financial Stability Facility will be increased to over 1 trillion euros, and there will be a recapitalization of European banks.

However, even with a plan in place to help contain the euro zone debt crisis, naysayers are already coming out of the woodwork saying the measures taken are short term at best and expect doubts to return. “The very best you can hope for is it buys you time,” said Jonathan Loynes, Capital Economics’s Chief European Economist. “It avoids an imminent catastrophe and means Greece should be able to meet its obligations in the near future, and it may restore a bit of confidence. But it won’t prevent the debt crisis overall from rambling on and indeed escalating.” Greek Prime Minister George Papandreou came out in support  of the plan as well, saying, “The crisis gives us the opportunity and this agreement gives us time. We negotiated and managed to erase a very important  part of our debt. Tens of billions of euros have been lifted from the backs of the Greek people.”

The U.S. weekly first-time jobless claims report showed a drop of 2,000 while the four-week moving average fell closer to the pivotal 400,000 mark. In an optimistic report, the U.S. gross domestic product rose by 2.5% in the third quarter, showing that the economy is expanding at a rate nearly double that of the second quarter. Inflation is also believed to be down to the 2.0% level, which lowered from the 3.3% level in the second quarter.

Lawmakers may be becoming complacent in their efforts to close the federal spending gap; Reuters reported that many lawmakers do not think another credit rating downgrade could affect the economy. Congressman Michael Grimm said, “There have been some that think we can absorb another [downgrade] and they hide behind the fact that the credibility of the ratings agencies has been called into question.” The attitude that the United States is the “cleanest dirty shirt” may cause paralysis in a congress that is  divided on such a hot-button issue.

Hedge funds seem to be betting against another recession. Many have placed bets on commodities which generally increase in value while coming out of a recession. “People are looking around saying, ‘You know what, the world isn’t ending,’” said John Stephenson, SVP and Fund Manager for First Asset Investment Management Inc. Silver, Platinum, and Palladium are all very industrial metals with many uses as raw materials and an increase in manufacturing levels may mean increased demand for those as raw materials.

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,638.40. The high was on Friday, Oct. 28th at $1,754.00, while the low for the week occurred on Monday, Oct. 24th $1,636.60. Gold ended the week up $107.10 at $1,745.50. 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 $31.23. Silver reached a high of $35.70 on Friday, Oct. 28th, while this week’s low for Silver occurred on Monday, Oct. 24th at $31.23. Silver ended the week up $4.18 at $35.41. 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 $1,509.50 and ended the week up $140.10 at $1,649.60. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $616.40 and ended the week up $52.60 at $669.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

Sunshine Gold Bars

APMEX is proud to offer Sunshine Minting Gold Bars in 5 gram, 10 gram, and 1 ounce sizes. Sunshine Minting is one of the premier minting companies in the world. Based in Idaho, Sunshine Minting is an American company that produces 24k (.9999  pure) Gold bars. These little pieces of inflationary protection come in their own tamper-evident packaging to ensure quality control and convenient storage.

APMEX and Sunshine Minting have come together to offer our customers high quality Gold bullion at affordable prices. Log on to APMEX.com to grab your own self-contained piece of perfection today.

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Video Commentary: The Potential Impact of the European Crisis on Investments

Is your portfolio ready?

With the European debt crisis continuing to escalate, now could be a critical time to review your asset allocation strategy, particularly as you consider the global economic outlook for the next 3 to 5 years. Having a well balanced portfolio – one that is properly diversified across all asset classes including stocks, bonds, cash and Gold – has perhaps never been more important.

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European Debt Crisis: Alternative Outcomes from History

No one can predict the outcome of the European Union (EU) debt crisis or the impact on the global economy. Regardless of the outcome, if you’ve allocated your investments among asset classes that historically do not move in the same direction, you’ve got a degree of protection for your portfolio. Learn more in our video commentary as APMEX Chief Executive Officer, Michael Haynes, reviews recent economic history and discusses three possible outcomes of the EU debt crisis and the potential impact on YOUR investments.

Uncertainty and Your Portfolio

Global uncertainty and the inter-relationships among world markets mean that an asset allocation strategy that includes exposure to non-correlated asset classes is an integral part of a long-term investment plan. Historically, Gold has played a key role in maintaining a well-balanced portfolio. As this chart shows, Gold has held – and even increased – its value over the past decade while the world’s major stock markets have suffered.

Your Asset Allocation Strategy

When determining your asset allocation strategy, you should consider each asset class – cash, bonds, stocks and Gold – and how each class is likely to perform over the next 3 to 5 years, based on your view and personal economic outlook. If you don’t have exposure to Gold, perhaps now is the time to consider how this world-class asset – with its history of offsetting the uncertainty in stocks and bonds – may help you achieve better balance.

Our Most Popular Products

APMEX offers a variety of precious metals investment options with beautiful Silver American Eagles and Gold American Eagles. Considered some of the most beautiful coins ever minted, American Eagles are among the finest bullion coins in the world. New and seasoned investors alike can purchase American Eagle bullion coins to cater to their individual investment needs.

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