8.19.11 WEEKLY RECAP

Markets were still highly volatile this week and the lack of certainty has pushed Gold to new record highs.  Stocks are suffering from fears of a double-dip recession due to weak economic data in practically every sector. 

Early in the week, the markets were buoyed by the European Central Bank announcing that last week it began buying Italian and Spanish securities. According to Christoph Rieger, head of fixed-income strategy at Commerzbank AG in Frankfurt, “The market optimists will interpret this number as good news as it underscores the ECB’s resolve…Equally, the pessimists will point out that it is bad news as it shows how much money the ECB had to commit for the yield compression seen.” This came about primarily due to a failure of politicians to convince investors that the debt crisis could be contained.  Many experts are pushing for a new “Eurobond,” saying that such a common bond issuance would allow euro zone members to borrow at affordable rates, thereby solving the current debt crisis. However, the German government is strongly against the idea of issuing Eurobonds, fearing that such a move would increase borrowing costs for Germany while also reducing the incentive for troubled euro zone countries (such as Greece) to make necessary economic reforms.

All hopes of a common Eurobond went away on Tuesday; however, as the highly anticipated meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel yesterday did not satisfy world investors. The growing feeling is that plans for closer monitoring of fiscal policy in the euro zone are not enough to stop the debt problem from spreading to other countries.  This news, along with weak data about the overall health of the German economy caused jittery traders to lose the shred of confidence they had gained over the previous few days.

All of this culminated in a massive selloff late in the week, led by large losses in European financial sector.  World equity markets are plunging Thursday and Friday and the European banks are the cause for concern. Major Banks across the euro zone are sharply lower, as the news broke that the European Central Bank lent $500 million Euros to a euro zone bank, that had not requested a loan since last February. Although no details were offered, the market reads this as another sign of escalating difficulties in the European financial system, which could also affect U.S. banks.

Weekly Spot Prices

Gold:
Spot Gold prices opened this week at $1,744.40. The all-time record high was on Friday, Aug. 19th at $1,881.80, while the low for the week occurred on Monday, Aug. 8th at $1,730.80. Gold ended the week up $112.90 at $1,857.30. 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 $39.18. Silver reached a high of $43.04 on Friday, Aug. 19th, while this week’s low for Silver occurred on Monday, Aug. 15th at $38.69. Silver ended the week up $3.86 at $43.04. 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 $1,801.00 and ended the week up $79.10 at $1,880.10. 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 $749.00 and ended the week up $6.10 at $755.10. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week.

 GOLD BUFFALO COINS 

 In 2006, the United States Mint introduced its first 24-karat pure Gold coin: the Gold Buffalo Coin. The Gold Buffalo coin is designed after the famous 1913 Type 1 Buffalo Nickel created by James Earle Fraser. The obverse shows the well-known Indian Head design, and the reverse features the classic buffalo design.

The Native American depiction on the Gold coin’s obverse is believed to be based on three different American Indians.  Before his death, Fraser named two of the American Indians- Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the Cheyenne.  Although many Indians have claimed to be the third Indian, Fraser could not recall the person’s name.  It is widely believed that the bison on the coin’s reverse was modeled after Black Diamond, a popular attraction at the New York Zoological Gardens.

The 2006 and 2007 Gold Buffalo coins were a huge success; they provided pure-gold competition for the Canadian Gold Maple Leafs. The 2008-W Gold Buffalo is the prize of the Buffalo collection.  2008 is the only year fractional Gold American Buffalos were minted and they are scarce. The 2006, 2007, 2008, 2009, 2010, and 2011 Gold Buffalo coins are .9999 fine and are only available in a 1 oz coin.

To add the stunning 24-karat Gold Buffalo coins to your Gold coin collection or Gold portfolio, shop APMEX’s wide selection of Gold Buffalo coins. APMEX makes it easy to buy Gold by offering competitive Gold prices on all Gold coins.

 

Balance your portfolio with Gold today.

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7.29.11 WEEKLY RECAP

Gold, Buy gold, gold prices, debt ceiling, obama, bipartisan

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.

 

Gold, Buy Gold, Gold Price, Record high gold, gold demand, debt celing,

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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Market Recap 5/6/11

The month of May began excitedly with the global headline of the week. Late Sunday evening, President Obama announced to the world that Osama bin Laden was found and killed. American stock futures and the U.S. Dollar immediately began to rise as the price of Gold fell $16.00. Silver which already had a tumultuous. weekend, took a sharp dive . By mid-day, it was apparent that the bin Laden bounce was short lived.

The ADP Private Sector jobs report was released Wednesday. Private sector jobs increased by 179,000 jobs in April which was lower than analysts’ expectation of 200,000 jobs. The good news is that layoffs level in 2011 reached a marked low. Stock futures had dropped in anticipation of this report and declined further after this announcement. Precious. metal prices continued their retreat in overnight trading but Gold and Silver began recovering with the release of this news.

Later that day, reports came out that Mexico’s central bank had been quietly stocking up on Gold. They boosted their foreign reserves by trading $4 Billion worth of U.S. Dollars for $4 Billion in Gold. “They’re probably thinking that getting out of Dollars and into Gold makes sense because we know that the Dollar has some trend to depreciate in the near future at least,” said Sergio Martin, Chief Economist at HSBC in Mexico City. “I don’t think they’re going to lose money with this.”

Thursday was streamed with bad news and extreme market volatility. The number of U.S. unemployment claims was expected to drop 19,000 this week but instead rose by 43,000 to 474,000. This is the highest level in eight months. The four-week moving average for jobless claims, considered the better trend measurement, rose 22,250 and is now over 400,000 to 431,250.

Also on Thursday, a new report by Clear Capital stated that home prices have double dipped nationwide. Nationwide prices are now lower than their low point of 2009. Prices have fallen 11.5% in the past nine months. Over one third of the national home sales are coming from bank owned properties (REO) and banks want to get these properties off their books, thus driving prices down.

By the end of the day, oil fell below $100 per barrel on the concerns that a slumping economic climate will lower demand. The stock market was down triple digits and precious metals went through a major correction. It all started with the precious metals earlier,” said James Cordier, a portfolio manager at Optionsellers.com in Florida. “Oil is down because everyone is heading for the doors,” he added. A weak jobs report added fuel to the fire with investors again worrying about a double-dip recession, Cordier said. “Here we are supposedly at the height of the recovery and not only we can’t create jobs, we are losing jobs.”

Friday began with what looked like good news but turned out to be conflicting reports. Non-Farm payrolls were unexpectedly up, but unemployment unexpected climbed to 9%. Stock, oil and precious metal prices all bounced up on this report.

Gold:
Spot Gold prices opened this week at $1,567.30. The high during the week was on Monday, May 2nd, at $1,577.40, while the low for the week occurred on Friday, May 6th, at $1,471.10. Gold ended the week down $66.60 at $1,500.70. 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 $48.04. Silver reached a high of $48.19 on Monday, May 2nd, while this week’s low for Silver occurred on Friday, May 6th, at $33.04. Silver ended the week down $12.19 at $35.85. 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 $1,879.00 and ended the week down $87.40 at $1,791.60. Popular Platinum products this week included 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $796.60 and ended the week down $79.40 at $717.20. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

Featured Bullion Product:
The Canadian Silver Maple Leaf, the official Silver bullion coin of Canada, has become one of the most popular Silver coins sought after by investors and collectors worldwide. Since first being minted by the Royal Canadian Mint in 1988, the design of the Silver Maple Leaf has undergone annual changes that include proof releases, various privy marks, holographic enhancements, and commemorative variations. However, the basic features of the Silver coin have remained the same since its inception. The obverse of the coin depicts an effigy of Queen Elizabeth II, and the reverse of the coin showcases the signature Maple Leaf so closely associated with Canadian nationalism and reflective of Canadian pride.

What sets this Silver gem apart from its Gold and Platinum counterparts is the fact that the consumer demand for the Silver Maple Leaf has caused the prices for the coin to skyrocket past the actual bullion value of the coin. For example, while the face value of the Silver Maple Leaf is five Canadian Dollars, the highest face value among international Silver bullion coins, the coin has generated prices that far outweigh its actual face value. In addition to its high value, the Silver Maple Leaf is unique in that it is one of the purest Silver bullion coins on the market. With a 99.99 percent purity, the Silver coin ranks among the purest Silver bullion coins ever produced.

For its numerous positive qualities, the Canadian Silver Maple Leaf is a treasure that could potentially enhance any coin collection or investment portfolio. Because of the high value, purity level, and clear symbolism of Canadian culture, the Silver Maple Leaf is a coin that has developed a high international profile and will most likely continue to play a major role in the world coin markets.

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Market Recap 12/3/10

International uncertainty has led to an increase in the price of precious metals. The European Union is expected to pass a measure increasing regulation on position limits. Also driving up interest in metals is information claiming Japan has increased importation of Gold by 500 percent over 2009 figures.

The dollar is down 1% against foreign currency amid current discussions on tax cuts and unexpected increases in unemployment. On the home front, home sales have grown 10% since September, but a staggering 436,000 unemployment figure quelled much of the excitement.

Precious metals rose this week with some making significant gains. Gold is up over 3%, while Silver jumped an impressive 6.5%. With an eye towards the future, the Canadian Imperial Bank of Commerce (CIBC) has increased its Gold price forecast to $1,600.00 per Troy Ounce in 2011 and to $1,700.00 per Troy Ounce in 2012.  

Gold:
Spot Gold prices opened this week at $1,373.50. The high during the week was on Friday, December 3rd, at $1,409.90, while the low for the week occurred on Monday, November 29th, at $1,352.60. Gold ended the week up $42.50 at $1,416.00. This week, the most popular Gold bullion products were 2010 1 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars.

Silver:
Spot Silver prices opened this week at $27.53. Silver reached a high of $29.45 on Friday, December 3rd, while this week’s low for Silver occurred on Monday, November 29th, at $26.45. Silver ended the week up $1.90 at $29.43. The most popular Silver products on APMEX.com this week were 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 1 oz. APMEX Silver Rounds.

Platinum:
Spot Platinum prices opened this week at $1,661.50 and ended the week up $70.80 at $1,732.30. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles continue their popularity with investors.

Palladium:
Spot Palladium prices opened this week at $701.00 and ended the week up $68.80 at $769.80. 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 5 oz. America the Beautiful Silver Bullion Coins.

Following the popularity of the Statehood Quarters, the U.S. Mint chose national parks from across the nation to adorn the reverse of the new America the Beautiful Quarters. In correlation with these quarters, the U.S. Mint has produced matching 5 oz. Silver coins. The first five coins in this series are to be released through authorized vendors on December 6, 2010.

The release of these coins has been highly anticipated and was pushed back several times from the U.S. Mint. These delays have driven the popularity of this series through the roof before the designs, mintages, or release dates were revealed. We now know the designs will mirror the quarters and the mintage rates are maxed out at 33,000 units per design.

The five designs to be released next week are Hot Springs (Arkansas), Yellowstone (Wyoming), Yosemite (California), Grand Canyon (Arizona), and Mount Hood (Oregon).

 

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Market Recap 9/17/10

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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Market Recap 9/10/10

The Dow Jones Industrial Average edged up slightly today, ending nearly one-half of one percent higher, as investors regained a bit of optimism about the economy. Although trading was very light, this move continued the progress made over the last two weeks. Some of the optimism in the marketplace can be attributed to the decrease in jobless benefits claims.

The Labor Department announced that initial jobless claims have dropped by 27,000 to 451,000 new claims for the week ending September 4th. The U.S. Dollar fell against most foreign currencies, while the Canadian Dollar touched a three-week high on speculation that their central bank will increase borrowing costs.

The International Monetary Fund (IMF) announced the sale of 10 Metric Tons of gold to the Bangladesh Bank, the central bank of that nation. This sale is part of the 403.3 metric tons approved for sale by the IMF Executive Board. The nations of India, Mauritius, and Sri Lanka have already made purchases from the IMF as part of these 403.3 metric tons. A Senior Trader at the Korea Exchange Bank Futures Company was quoted as saying, “[the transaction] will push gold higher as central bank purchases have traditionally been a major factor fueling the price. Central banks want to diversify their reserves because of the unstable dollar and we may see more buying down the road.”

Further IMF sales and the hope that India’s fall wedding and festival season will inspire a dramatic upswing in consumer purchases of gold jewelry may possibly move gold prices higher due to increased demand.

Gold:
Spot gold prices opened this week at $1,247.20. The high during the week was on Wednesday, September 8th, at $1,264.70, while the low for the week occurred on Friday, September 10th, at $1,237.90. Gold ended the week up $0.80 at $1,248.00. 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 $19.87. Silver reached a high of $20.18 on Wednesday, September 8th, while this week’s low for silver occurred on Tuesday, September 7th, at $19.59. Silver ended the week up $0.05 at $19.92. Popular silver products this week were 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 1 oz. APMEX Silver Rounds, and 1/2 oz. APMEX Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,554.50 and ended the week down $11.50 at $1,543.00. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Scotiabank Platinum Bars, 1/4 oz. Platinum American Eagles were popular again this week with investors.

Palladium:
Spot palladium prices opened this week at $533.20 and ended the week down $11.30 at $521.90. 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 2011 Silver Canadian Timber Wolf 1 Ounce Coin.

The 2011 1 oz. Silver Canadian Timber Wolf coins have just been released! The Canadian Timber Wolf coin is the first coin released in the Royal Canadian Mint’s 3-year long “Canadian Wildlife Coin Series” program. The second coin is scheduled to be released in March 2011. The Royal Canadian Mint plans to issue 2 coins per year over the 2011 to 2013 period. All of these coins will portray different animals indigenous to Canada.

The obverse of the coin bears Queen Elizabeth II with a $5.00 CAN face value. The reverse has a beautifully designed Canadian Timber Wolf, with the moon and night time mountain side landscape behind this majestic Canadian predator. These coins are all in Brilliant Uncirculated!  Orders of 25 or more come in the original yellow Royal Canadian Mint tubes and orders of 500 come in the original sealed Royal Canadian Mint boxes. There is a fairly limited mintage of these Timber Wolf coins which combine beauty and scarcity into one Troy Ounce of silver.

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Market Recap 7/16/10

Federal Reserve officials downgraded their outlook for the economy and said additional central-bank action could be necessary if the economic outlook “were to worsen appreciably,” according to The Wall Street Journal. Overall, officials said it could take as long as five or six years before the economy returns to a sustainable path of moderate growth and unemployment settles at the 5% level where it rested before the recession began in 2007.

The euro reached a new two-month high against a weaker dollar on Friday as rising European money market rates continued to underpin the currency, reported Reuters. The dollar fell to a seven-month low against the Japanese Yen when a report showing that U.S. consumer sentiment weakened in early July to its lowest in 11 months.

The spot price of gold consolidated Friday as day traders and market speculators were taking profits and reacting to immediate market news about higher than expected Consumer Price Index numbers. This short-term pullback afforded precious metal investors a great opportunity to purchase gold, silver, platinum and palladium at lower price levels before the next rally. According to MarketWatch, “A settlement around $1,190 would be gold’s lowest since mid-May and bring the metal close to the bottom of its recent trading range.”

Gold:
Spot gold prices opened this week at $1,212.60. The high during the week was on Tuesday, July 13th, at $1,218.80, while the low for the week occurred on Friday, July 16th, at $1,185.80. Gold ended the week down $19.40 at $1,193.20. The highest-selling gold items this week were Gold American Eagles, Gold Buffalo Coins and 1 gram Pamp Suisse Gold Bars.

Silver:
Spot silver prices opened this week at $18.17. Silver reached a high of $18.54 on Thursday, July 15th, while this week’s low for silver occurred on Friday, July 16th, at $17.73. Silver ended the week down $0.30 at $17.87. The most popular silver products on APMEX.com this week were Silver American Eagles, Silver Canadian Maple Leafs and 1 oz. Silver Buffalo Rounds.

Platinum:
Spot platinum prices opened this week at $1,533.20 and ended the week down $23.70 at $1,509.50. Platinum investors concentrated their purchases on 1 oz. Pamp Suisse Platinum Bars, Platinum Australian Koalas and Platinum American Eagles this week.

Palladium:
Spot palladium prices opened this week at $462.00 and ended the week down $10.40 at $451.60. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs were the most popular palladium products this week on APMEX.com.

Featured Bullion Product:
Each week, APMEX shines a spotlight on a different bullion product to educate our readers. The featured product this week is the Gold Canadian Maple Leaf coin.

As the second oldest gold bullion coin in terms of market longevity, the Canadian Maple Leaf became the alternative to the South African Krugerrand. This was particularly important at that time as South Africa had apartheid considerations that troubled some investors. The Royal Canadian Mint began striking these coins in 1979 and that minting continues through today. These artistic coins are struck in beautiful 24-karat pure gold and each weighs 1 Troy ounce.

On the obverse, or front, of these coins is a depiction of Great Britain’s Queen Elizabeth the Second. The reverse, or back, of this coin depicts the national symbol of Canada – the Maple Leaf. These stunning coins are backed by the Royal Canadian Mint for their purity, content and fineness.

APMEX offers a superb selection of Gold Canadian Maple Leaf coins in a variety of dates, sizes and special designs as produced by the Mint. One ounce coins purchased in quantities of 25 or more will be delivered in special tubes and quantities of 500 or more coins are shipped in the special Royal Canadian Mint boxes.

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