10.21.11 Weekly Recap

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The uncertainty in Europe has caused Gold to be pulled in opposite directions all week. Europe remained at the forefront of traders’ minds this week as markets moved up on optimism that a bailout plan was imminent.  However, German Chancellor Angela Merkel made a pointed comment, saying, “Dreams that with this package everything will be solved and everything will be over on Monday won’t be able to be fulfilled.” Many investors thought a more defined plan would be created during the conference of European Union (EU) finance leaders but Germany, the main proponent of any bailout, is not building confidence in the global
marketplace. They will be working on a plan but that plan is not the ‘miracle cure’. The plan includes a number of objectives, including a write-down of debt greater than the originally suggested 21% reduction, and recapitalization of euro zone banks. “Determining how the write-downs will be applied and the source of funds to recapitalize the banks will require arduous negotiations between now and the deadlines the EU has set for itself,” said Dan Morris, Global Strategist at J.P. Morgan Asset Management. “We remain optimistic an agreement will be found but returns have been so strong over the last few weeks there is a risk of disappointment if it takes longer to work out the details than investors expect.”

The Chinese economy grew at 9.1% in the third quarter from a year earlier, which is the slowest pace since 2009. This was down from the 9.5% of previous quarters and the expectations of 9.3%. The slowdown is a global concern on two fronts. If the Chinese economy slows, it is an indicator that the global economy is slowing since China is a major exporter of goods. If business is  lowing, it is due to the poor economic condition of China’s customers, i.e., the other nations of the world. If the Chinese
economy should continue to falter along with continued troubles in the euro zone, many investors fear a repeat of what we experienced in 2008.

The U.S. Department of Labor reported this week that it’s seasonally adjusted index for the prices received by farms, factories and refineries increased by 0.8% after staying flat in August. Economists had set their expectations at only 0.2%. This is the largest increase in five months, which should increase debate about the potential for rising inflation.

Moody’s Credit Rating Service issued a warning that it might soon review France’s triple-A credit rating for a possible downgrade. Global stock and precious metals markets headed lower overnight on this news and continued concern whether European leaders can come up with a comprehensive solution to their debt problems. Stocks and precious metals have been up over the past couple of weeks on the expectation that the 17 countries of the euro would come up with a three-pronged solution to the debt crisis.

Moody’s credit review of France threatens a number of initiatives in place from the Greek debt relief to overall funding for
the recapitalization movement for European Union (EU) banks. The unusual part was Moody’s has almost bypassed a step by not initially putting France on a ratings watch. France is currently the second in financial power to Germany. France’s original 1.75% growth projection was overly optimistic and needs revision. According to Moody’s, “The deterioration in debt metrics and the
potential for further contingent liabilities to emerge are exerting pressure on the stable outlook of the government’s triple-A debt rating.” The French Economy Minister, Francois Baroin, clarified, “The triple-A is not in danger because we will be even ahead of
schedule on passing deficit reduction measures…We will do everything to avoid being downgraded.

The Federal Reserve released its Beige Book, prepared for the Federal Open Market Committee meeting, shows a very weak economic growth in the U.S. Among the weakest sectors of the economy were banking & finance. Analysts expect the current easy-money stimulus policies from the Fed to continue for some time.

Gold demand has been high and low during the week due to the uncertainty in Europe. Credit Agricole analyst Robin
Bhar explained, “At the end of the day, Gold has got the physical business that comes in on the dips, as well as investors so
that should [support it at the current price.] But even if [the price does come down], if we get some more funding crises, you have to think there will be even stronger support down at those numbers, so I’m not worried.”

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,683.80. The high was on Monday, Oct. 17th at $1,696.80, while the low for the week occurred on Thursday, Oct.20th at $1,604.70. Gold ended the week down $38.80 at $1,645.00. 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 $32.21. Silver reached a high of $32.68 on Monday, Oct. 17th, while this week’s low for Silver occurred on Thursday, Oct. 20th at $29.94. Silver ended the week down $0.81 at $31.40. 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 $1,556.40 and ended the week down $41.60 at $1,514.80. 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 $625.40 and ended the week down $9.00 at $616.40. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

 Video: Gold American Eagle

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Beginning on January 3, 2011, the 2011 Gold American Eagle Coins became available to the United States Mint’s authorized purchasers. An official Gold bullion coin of the United States, the Gold Eagle Coin has become one of the most popular coins on the world market. Since its release by the U.S. Mint in 1986, the Gold Eagle has featured the same basic design. Displaying a design created by Augustus Saint Gaudens, the obverse of the Gold American Eagle depicts the figure of Lady Liberty, who holds a torch in her right hand and an olive branch in her left hand. In the background is a rendition of the Capitol building in Washington, D.C. The reverse of the Gold coin illustrates a nest of American eagles. A symbol of American nationalism and pride, the eagle is pictured carrying an olive branch and hovering over the nest.

Available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations, the 2011 Gold American Eagle appeals to both collectors and investors alike. In addition to its beautiful design, the Gold Eagle is also a Gold gem for its value. Containing 91.67% pure Gold, the 22-karat Gold American Eagle Coins have a market value that usually equals the market value of their Gold content. Moreover, the 2011 Gold American Eagles are eligible for precious metals IRA accounts and can potentially enhance any coin collection or investment
portfolio
. Having gained international popularity since its debut, the Gold American Eagle is a coin that will most likely continue to attract attention from coin collectors all over the world. Buy Gold American Eagles today at APMEX.com.

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Video Commentary: Consider Re-Balancing Your Portfolion With Gold

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The financial markets continue on an unsettled course, and perhaps now is the time to consider re-balancing your portfolio with a World Class Asset with a history of offsetting the uncertainty in stocks and bonds.

APMEX Chief Executive Officer Michael Haynes talks about the instruction from the 2008 financial crisis, when Gold proved its worth as both a source of liquidity and enduring value. Many analysts are stating that today’s situation may be similar to 2008 all
across Europe and potentially, on a global scale. If history is our teacher, Gold could once again prove itself as a long-term storehouse of value during uncertain times.

You may not be able to predict the future. But one thing is certain: 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. If you haven’t diversified, perhaps now is the time to improve the balance in your portfolio with all four asset classes: stocks, bonds, cash and Gold — the fourth asset class.

Historically, Gold prices have moved independently of stocks. In fact, beginning three years ago, you can see in the
chart how Gold bounced back from the 2008 financial crisis, while the S&P 500 continued to struggle.

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As you consider your own portfolio, keep your investment horizon, at least the next 3 to 5 years, as your guide. History suggests that any pullback in Gold prices is an opportunity to add to your position in Gold.

 Our Most Popular Gold Investments

 

2011 Gold Canadian Maple Leafs

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Canadian Maple Leaf bullion coins are a great way to invest. Many consider the Maple Leaf to be one of the world’s most beautiful Gold coins. Each Gold Maple Leaf coin is legal tender, guaranteed by the Canadian government for its weight and .9999 fine purity.

1 oz. Credit Suisse Gold Bar

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As one of the most respected names in the precious metals industry, Credit Suisse produces these 1 oz. Gold bars. Guaranteed .9999 fine, 1 oz. Credit Suisse Gold bars are packaged in their own assay card.

2011 1/4 oz. Gold American Eagle

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With this fractional Gold American Eagle, you get the stately beauty and symbolism of the the American Eagle at a lower price point. The Gold American Eagle one of the world’s most popular forms of personal Gold ownership.

Balance your portfolio with the 4th asset class of Gold today.

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Your Portfolio in These Uncertain Times: Gold Now?

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Is Your Portfolio Prepared for the Current Markets and the Next 3 to 5 Years of Economic Issues?

What You can Learn from the 2008 Liquidity Crisis:
How Gold Performed In and After the Market Fall

The global markets are in turmoil and seeking liquidity as a result of the current events. Perhaps now is the time you need to think about re-balancing your portfolio to weather these adjustments and set your course for the next 3 to 5 years. Today, more investors seek a balanced portfolio with all four asset classes: stocks, bonds, cash and Gold – the fourth asset class.

Gold is a global storehouse of value and prices can slide at times like these as some investors need to raise cash from one of their most liquid and most trusted assets, Gold, to cover losses and margin calls in other markets. Many advisors are commenting on the parallel of the current markets in Europe to the liquidity crisis that occurred in 2008 with U.S. markets and the Lehman collapse. In the 2008 crisis, Gold provided a source of liquidity as investors sold off some of their Gold holdings to meet their requirements.

Gold compared to S&P 500 from 2008 through 2011In this chart beginning three years ago, you can see how history demonstrates that Gold recovered from the crisis in September and October 2008 while the S&P 500 has continued in weakness as global economies have been mired in too much government debt. Now consider today: do you have a forecast for the next 3 to 5 years of the U.S. and world economies becoming stronger or weaker? Perhaps history can be a teacher.

With Gold now providing liquidity for those who need it, perhaps this is the opportunity for you to begin or add to your Gold holdings. As you consider the balance in your portfolio, it is important to keep your investment horizon, perhaps the next 3 to 5 years, as your guide.

Do you have questions? Our non-commissioned Account Managers are available Monday through Friday from 8 a.m. to 5 p.m. Central time at 888-518-7464.

Our Most Popular Gold Investments

Gold American Eagle

1 oz. Gold American Eagles as low as $89.99 per coin over spot

Since the Gold American Eagle was introduced in 1986, it has been in high demand. Its stately appearance and proud symbolism make the Gold American Eagle one of the world’s most popular forms of personal Gold ownership.

Gold American Eagle

1 oz. Gold Canadian Maple Leafs as low as $69.99 per coin over spot

Gold Canadian Maple Leaf bullion coins are a great way to invest. Many consider the Maple Leaf to be one of the world’s most beautiful Gold coins. Each Gold Maple Leaf coin is legal tender, guaranteed by the Canadian government for its weight and .9999 fine purity.

Balance your portfolio with the 4th asset class of Gold today.

Keep up with APMEX news throughout the week with subscriptions to the

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

7.29.11 WEEKLY RECAP

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The eyes of the world are on Washington while Gold spot prices are at record-highs.  Investors all over the globe have a stake in the outcome of the debt ceiling negotiations.  With each passing hour, the nation moves closer to a crisis and anxiety builds.  Markets reflected that anxiety this week. Precious metal prices are up due to safe-haven buying strategies and stocks are down sharply.  In fact, the Dow Jones Industrial Average is set for its largest weekly decline in over a year, while Gold pushed to record high spot prices three times this week.

In Hong Kong earlier this week, Secretary of State Hillary Clinton spoke to Chinese investors. She spoke reassuringly that “political wrangling” is a part of democratic problem-solving. She explained that the U.S. is working towards resolving the disagreements and improving the country’s long-term fiscal outlook. She also framed the debt debate as a sort of bump in the road.

The partisan tactics being employed by U.S. political party leaders became clear on Wednesday when both President Obama and House Speaker John Boehner made televised addresses.  President Obama clearly showed that the two sides are no closer to an agreement that would allow the U.S. to raise the debt ceiling in order to avoid what most analysts describe as a devastating default. “For the first time in history, our country’s triple-A credit rating would be downgraded, leaving investors around the world to wonder whether the United States is still a good bet,” he said in remarks late Monday. Obama was quite critical of the Republicans’ unwillingness to compromise but he made it clear that he expects a compromise package on his desk this week.  

In his rebuttal, House Speaker John Boehner pointed the criticism back towards the President and the Democratic Party. He categorized the Democratic plan as “full of gimmicks.” There is still the expectation that an agreement will be reached, albeit a short-term one. Their concern is that the credit rating agencies may still downgrade the U.S. credit rating if they see no significant steps taken to reduce long-term debt.

Another concern is the Commerce Department data that reports any economic growth we were experiencing had actually started to wane late last year, not this year as a number of economists’ data implied. Previous reports had the economic growth at 1.9% during the second quarter, but in actuality it only grew 1.3%. According to Ryan Sweet, a senior economist at Moody’s Analytics, “The economy essentially came to a grinding halt in the first half of this year…We did get side-swiped by some temporary factors which are fading, but it raises some concerns about the sustainability of the recovery.”

WEEKLY SPOT PRICES

Gold:
Spot Gold prices opened this week at $1,600.60. The all-time record high was on Friday, July, 29th at $1,637.50, while the low for the week occurred on Monday, July 25th at $1,600.60. Gold ended the week up $27.40 at $1,628.00. 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 $40.16. Silver reached a high of $41.47 on Wednesday, July 27th, while this week’s low for Silver occurred on Friday, July 29th at $39.30. Silver ended the week down $0.21 at $39.95. 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 $1,799.00 and ended the week down $17.10 at $1,781.90. 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 $807.90 and ended the week up $15.40 at $832.30. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

 

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½ oz Gold First Spouse Coins

In 2007, the U.S. Mint released the first four coins in a series of Gold First Spouse Coins. These coins are the government’s first  1/2  oz. 24-karat gold coins. They are also the first commemorative 1/2 oz. Gold coins. With a face value of $10, these .9999 fine Gold coins are minted and released annually in the order the First Ladies served in the White House. The First Spouse Coins are minted in Proof and Uncirculated condition. Each First Spouse Gold Coin will coincide with the release of the four annually circulating Presidential $1 Coins.

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A Special Message from Michael Haynes, CEO of APMEX.

 

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 >>>WATCH THE VIDEO <<<

With the looming debt ceiling crisis, Michael Haynes, CEO of APMEX, offers his unique perspective about the global and U.S. economies in these uncertain times and highlights the importance of diversifying your investments. As CEO of one of the world’s largest and most trusted online precious metals dealers, his insight comes from more than 30 years in the precious metals industry.

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

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