Market Recap 7/09/10

The U.S. economy may sleepwalk through the next year, avoiding another recession, but it is struggling to find a growth source strong enough to drive a robust recovery, reported Reuters. Dismal economic data and the ominous possibility of a double-dip recession are at the top of Wall Street’s talking points. However, some money managers are saying this assessment is premature. “The canary in the coal mine is not dead; it’s just sleeping,” said Ethan Harris, chief economist at Bank of America-Merrill Lynch. This recovery fails to measure up to the previous episodes in two important categories – consumer spending and housing.

According to the Department of Labor, initial jobless claims fell another 21,000 to 454,000 last week. Economists polled by Thomson Reuters had expected initial claims to fall to 465,000. The higher than anticipated drop in initial claims was the largest weekly drop since mid-April. High unemployment has been one of the biggest drags on the economy, alongside consumer spending, and the initial claims number is closely monitored as an indicator of the speed of economic recovery, according to TheStreet.com.

Gold rose 1.2% Friday as investors found a renewed appetite for the metal after it traded below $1,200 an ounce for three straight sessions, according to MarketWatch.com. The euro wasn’t able to hold above $1.27 as this week’s rally for riskier assets began to run out of steam, reported the Wall Street Journal.

In more positive news, APMEX announced this week that Michael Haynes, a 30-year veteran of the precious metal and rare coin markets, has been appointed Chief Executive Officer of APMEX. “We are pleased to have Michael Haynes join APMEX as our Chief Executive Officer to both continue and accelerate our growth for the future,” said Founder Scott Thomas. “He brings both public company and private company experience in high growth companies, and we look forward to sharing and benefitting from his vast experience.” Read the complete press release here.

Gold:
Spot gold prices opened this week at $1,212.00. The high during the week was on Tuesday, July 6th, at $1,215.10, while the low for the week occurred on Wednesday, July 7th, at $1,185.00. Gold ended the week up $0.60 at $1,212.60. Gold American Eagles, Gold Canadian Maple Leafs and Gold Buffalo Coins were the most popular gold products this week on APMEX.com.

Silver:
Spot silver prices opened this week at $17.89. Silver reached a high of $18.24 on Friday, July 9th, while this week’s low for silver occurred on Wednesday, July 7th, at $17.57. Silver ended the week up $0.28 at $18.17. The best-selling silver products this week were Silver American Eagles, Silver Canadian Maple Leafs and 1 oz. APMEX Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,505.80 and ended the week up $27.40 at $1,533.20. The most popular platinum items on APMEX.com this week were Platinum American Eagles, Platinum Australian Koalas and 1 oz. Pamp Suisse Platinum Bars.

Palladium:
Spot palladium prices opened this week at $436.00 and ended the week up $26.00 at $462.00. Palladium investors showed the most interest in 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week.

Featured Bullion Product:
Each week, APMEX shines a spotlight on a different bullion product to educate our readers. This week’s featured product is the Gold Austrian Philharmonic coin.

First minted in 1989, the Gold Austrian Philharmonic coin was the most popular selling gold coin in the entire world during 1992, 1995 and 1996, according to the World Gold Council. Elegant is the perfect word to encompass this lovely and unusual modern bullion coin. These exquisite coins were created as a tribute to the renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.

A harmonious design of musical instruments represents the world famous orchestra on the reverse of this gold coin. The obverse depicts the Great Organ of the Golden Hall in Vienna’s concert hall. Many collectors and investors consider this to be one of the most beautiful designs of all gold bullion coins. The Austrian Philharmonic coin is struck in .9999 fine gold and is available in 4 common sizes: 1 ounce, 1/2 ounce, 1/4 ounce and 1/10 ounce. There is even a limited-edition 20-ounce Gold Philharmonic coin available in extremely small quantities worldwide.

APMEX offers a great selection of current year Gold Austrian Philharmonic coins, as well as several prior years in brilliant uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.

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Market Recap 7/02/10

A weak job report in June gave the latest evidence that the economic recovery is slowing, reported The Associated Press. The Labor Department said that employers cut 125,000 jobs last month, the most since October. The majority of lost jobs can be attributed to the end of temporary census jobs. Unemployment decreased to 9.5 percent in June – the lowest level since July 2009. Fading confidence in the economy is evident even among Americans with secure jobs. One gauge of consumer confidence fell in June to about 53, down nearly 10 points in a single month, which is well below the reading of 90 typically seen in a healthy economy.

Analysts predict that the euro, which rallied sharply this week, may extend gains above $1.27 in the near term, according to Reuters. After rising as a result of Europe’s recent debt troubles, the dollar fell this week, along with losses in U.S. stocks and other commodities, sparking speculation that investors’ focus may be shifting from the euro zone crisis to the possibility of a stalled recovery in the U.S. “We are going to see further modest pullbacks in the U.S. dollar, but the euro is going to set the tone,” said Ashraf Laidi, chief market strategist at CMC Markets in London. “We may not be far from reaching a stage of concerted dollar decline because of the potential for the Federal Reserve prolonging (low) interest rates for a longer period of time.”

Gold prices contracted sharply on Thursday as investors opted for cash at the start of the third quarter, according to TheStreet.com. The yellow metal rebounded slightly on Friday as reactive investors bought on the dip. “People are still considering gold as a safe haven,” said Bernard Sin, the head of currency and metal trading at bullion refiner MKS Finance SA in Geneva. “Europe is still not in a good shape, and the U.S. is still not in a good shape.” During both the contraction and rebound of gold prices on Thursday and Friday, APMEX.com saw significantly higher transactions as investors continued to prefer ownership of physical precious metal.

Gold:
Spot gold prices opened this week at $1,256.60. The high during the week was on Monday, June 28th, at $1,263.70, while the low for the week occurred on Friday, July 2nd, at $1,198.80. Gold ended the week down $44.60 at $1,212.00. The best-selling gold products this week were Gold American Eagles, Gold South African Krugerrands and Gold Canadian Maple Leafs.

Silver:
Spot silver prices opened this week at $19.10. Silver reached a high of $19.23 on Monday, June 28th, while this week’s low for silver occurred on Friday, July 2nd, at $17.64. Silver ended the week down $1.21 at $17.89. The most popular silver items on APMEX.com this week were Silver American Eagles, Sunshine Silver Rounds and 1 oz. APMEX Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,573.40 and ended the week down $67.60 at $1,505.80. Platinum investors showed the most interest in Platinum American Eagles, 1 oz. Credit Suisse Platinum Bars and 1 oz. Pamp Suisse Platinum Bars this week.

Palladium:
Spot palladium prices opened this week at $481.10 and ended the week down $45.10 at $436.00. Palladium Canadian Maple Leafs and 1 oz. Pamp Suisse Palladium Bars 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. This week, we look at the Silver Canadian Maple Leaf coin.

Silver Maple Leaf coins are some of the world’s most recognizable silver bullion coins. First minted in 1988 and struck every year since, the Silver Canadian Maple Leaf coins contain one troy ounce of pure silver. They are minted in .9999 fine silver, making them one of the purest of all silver dollar-sized coins. These Maple Leaf coins are magnificently designed, with attention to every intricate detail. This has made the Silver Maple Leaf coin highly desirable to investors and collectors alike.

On the obverse, or front, there is a depiction of Great Britain’s Queen Elizabeth II. The reverse, or back, 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 Silver Canadian Maple Leaf coins in a variety of dates and special designs as produced by the Mint. Current dated coins purchased in quantities of 25 or more will be delivered in special mint tubes and quantities of 500 or more coins are shipped in special Royal Canadian Mint boxes.

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Market Recap 6/25/10

Shares of troubled British Petroleum hit a 14-year low Friday as worries about the company’s oil-spill cleanup efforts, and its ability to pay for them, were compounded by worries that the first tropical storm of the Atlantic hurricane season could be headed toward the Gulf of Mexico, reported MSN Money. A storm could hamper BP’s cleanup efforts, and it could impact the other offshore oil rigs in the Gulf, which produce about 30% of U.S. oil and 10% of natural gas. BP said that it has collected about 364,500 barrels of oil since the April 20 explosion on the Deepwater Horizon oil rig, which killed 11 people and caused the biggest oil spill in history.

“The Senate’s failure to pass legislation extending unemployment benefits will slow the pace of the U.S. recovery,” said economist David Resler, chief economist at Nomura Securities International Inc. in New York. “The demise of the bill will trim economic growth this quarter and in the period from July through September, ” estimated Resler. “This will have an immediate impact on the economy in the next few months,” Resler said in an interview with Bloomberg. While “the economy doesn’t have quite as much steam as we previously thought,” he said, “we’ll be able to endure the consequences.”

Gold prices corrected upwards Friday on signs that the U.S. economy is slowing, which prompted another flight to the safety of gold, reported TheStreet.com. Gold prices hovered just under the $1,260 level, after falling back slightly from the new record high of $1,265.50 set earlier in the week. This respite offered investors the opportunity to stock up on gold before the next rally. Many took advantage of the special reduced pricing on 2010 1/2 and 1/4 ounce Gold American Eagles available at APMEX.com.

Gold:
Spot gold prices opened this week at $1,257.30. The high during the week was on Monday, June 21st, at $1,265.50, while the low for the week occurred on Wednesday, June 23rd, at $1,225.20. Gold ended the week down $0.70 at $1,256.60. Gold investors showed the most interest in Gold American Eagles, Gold Canadian Maple Leafs and Gold South African Krugerrands this week.

Silver:
Spot silver prices opened this week at $19.21. Silver reached a high of $19.48 on Monday, June 21st, while this week’s low for silver occurred on Thursday, June 24th, at $18.17. Silver ended the week down $0.11 at $19.10. Silver American Eagles, Silver Canadian Maple Leafs and 1 oz. APMEX Silver Rounds were the most popular silver products on APMEX.com this week.

Platinum:
Spot platinum prices opened this week at $1,595.50 and ended the week down $22.10 at $1,573.40. The best-selling platinum products this week were 1 oz. Pamp Suisse Platinum Bars, 1 oz. Credit Suisse Platinum Bars and Platinum American Eagles.

Palladium:
Spot palladium prices opened this week at $492.50 and ended the week down $11.40 at $481.10. The most popular palladium items on APMEX.com this week were 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week, we are examining the Gold American Buffalo coin.

The United States Mint introduced the Gold American Buffalo coin in 2006. The coin’s design is borrowed from the famous Buffalo Nickel created by famed American sculptor, James Earle Fraser. The obverse depicts the iconic Native American Indian Head design, while the reverse features the classic buffalo design with inscriptions of the weight, denomination and gold content.

Gold American Buffalo coins are the first .9999 fine, 24-karat gold coins ever struck by the United States Mint. They are available to investors seeking to invest in a 24-karat gold coin that has its fineness and purity guaranteed by the United States Government.

APMEX offers a great selection of Gold American Buffalo coins dated during the current year and in several prior years in either brilliant uncirculated or proof condition. Uncirculated coins purchased in quantities of 20 or more will be delivered in mint sealed protective plastic sheets.

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Market Recap 6/18/10

The layoff axe struck Government payrolls this week as State Governments wrestle with massive budget shortfalls, reported CNNMoney.com. Last month alone, 22,000 state and local government jobs have disappeared, according to federal data. The majority of the cuts have come from the local level, and have come from the ranks of teachers, police, firefighters and social service workers. In a letter urging the leaders of both parties in the House and Senate to increase Federal Aid to the States, President Obama wrote that the country faces “a mounting employment crisis at the State and local level that could set back the pace of our economic recovery.”

According to TheStreet.com, investors continued to shine a spotlight of scrutiny on  Spain Friday as the International Monetary Fund’s managing director, Dominique Strauss-Kahn, met with Jose Luis Rodriguez Zapatero, Spain’s prime minister. Neither official mentioned any plans for a rescue package for Spain, a rumor that has been circulating the financial markets for days, according to MarketWatch.

Gold has climbed 15 percent this year, outperforming equities and bonds, while the euro has slumped 14 percent, reported Bloomberg. Many Greeks believe the country may go bankrupt, an opinion poll showed. Spain faces 24.7 billion euros of debt scheduled to mature in July and may need to look to the European Union as a financial lifeline. “The problems over in Europe are just as pernicious over here in the U.S.,” said Michael Pento, the chief economist at Delta Global Advisors Inc. “You can’t trust sovereign debt and sovereign currency. Gold is the only real honest money that we have.”

After a week of sluggish trading, gold set yet another new record high Friday as investors clambered for safe-haven assets. The yellow metal reached $1,262.50. A number of analysts have been quoted saying they believe gold prices will continue to rally and could reach $5,000 to $10,000 per ounce in the next five to 10 years.

Gold:
Spot gold prices opened this week at $1,228.40. The high during the week was on Friday, June 18th, at $1,262.50, while the low for the week occurred on Monday, June 14th, at $1,217.50. Gold ended the week up $28.90 at $1,257.30. The most popular gold items on APMEX.com this week were Gold Canadian Maple Leafs, Gold American Eagles and 1 gram Pamp Suisse Gold Bars.

Silver:
Spot silver prices opened this week at $18.27. Silver reached a high of $19.28 on Friday, June 18th, while this week’s low for silver occurred on Tuesday, June 15th, at $18.25. Silver ended the week up $0.94 at $19.21. The highest-selling silver products this week were Silver American Eagles, 1 oz. APMEX Silver Rounds and 1 oz. American Flag Silver Bars.

Platinum:
Spot platinum prices opened this week at $1,540.20 and ended the week up $55.30 at $1,595.50.  1 oz. Pamp Suisse Platinum Bars, 10 oz. Pamp  Suisse Platinum Bars and Random-Year Platinum Australia Koalas were the most popular platinum products on APMEX.com this week.

Palladium:
Spot palladium prices opened this week at $450.10 and ended the week up $42.40 at $492.50. Palladium investors showed the most interest in Palladium Canadian Maple Leafs and 1 oz. Pamp Suisse Palladium Bars this week.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week, we are featuring the Silver American Eagle.

Silver American Eagle coins are backed by the United States Government for their purity, content and fineness. These beautiful coins were the first silver bullion coins ever struck by the United States. The minting of these coins began in 1986 and continues through today. These coins are struck in .999 fine silver and each coin weighs 1 Troy ounce.

A depiction of a walking Miss Liberty graces the obverse, or front, of these silver bullion coins. The design was borrowed from the U.S. Half Dollar design used between 1916 and 1947,  and was created by famed sculptor Adolph Weinman. The reverse, or back, of this coin depicts a Bald Eagle with a shield and 13 stars above it.

APMEX offers a wide selection of Silver American Eagle coins in virtually all production years, in both brilliant uncirculated condition and in collector’s quality proof condition. Coins purchased in quantities of 20 or more will be delivered in the same special tubes as used by the United States Mint. Quantities of 500 or more coins are shipped in the special green United States Mint boxes. Proof coins generally come in their original issue cases with certificates of authenticity as issued by the United States Mint.

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Market Recap 6/11/10

In a setback for the U.S. economy, retail sales fell in May as consumers curtailed their spending on everything from cars to clothing, the Commerce Department reported. The drop in sales reported by the Commerce Department on Friday reflected weak gasoline prices and the end of a home buyer tax credit which had previously boosted sales of building materials, according to Reuters.

The Wall Street Journal reported that the U.S. trade deficit with China expanded from $16.90 billion in March to $19.31 billion in April, adding to a trend that some economists worry could revive the international trade imbalances that many see as a major contributor to the recent financial crisis. U.S. Treasury Secretary Timothy Geithner said China was taking some steps to address U.S. concerns about its currency and trade policy, but also vowed to press for more fundamental change. “We are seeing some progress, but we still face many challenges,” he said.

With the onset of the World Cup in South Africa, Rand Refinery Ltd., of Johannesburg, South Africa, raised production of Krugerrand coins to a 25-year high as Europe’s sovereign-debt crisis boosted investor demand for bullion, according to a story from Bloomberg. Output last week jumped 50 percent to 30,000 ounces of blank coins for minting by SA Mint, said Debra Thomson, the refinery’s treasurer. “We’re seeing higher demand for gold because of the sovereign-debt crisis in Europe and the depreciation of the euro,” said Thomson. “People are looking for gold as a safe haven.” Increased demand for gold caused a brief new high for the yellow metal. Gold set a new record early on Tuesday at $1,254.50 before settling again under the $1,250.00 mark where it remained for the rest of the week.

Gold:
Spot gold prices opened this week at $1,220.90. The high during the week was on Tuesday, June 8th, at $1,254.50, while the low for the week occurred on Thursday, June 10th, at $1,216.20. Gold ended the week up $7.50 at $1,228.40. The most popular products with gold investors this week were Gold American Eagles, 1 gram APMEX Gold Bars and Gold Canadian Maple Leafs.

Silver:
Spot silver prices opened this week at $17.45. Silver reached a high of $18.54 on Friday, June 11th, while this week’s low for silver occurred on Monday, June 7th, at $17.20. Silver ended the week up $0.82 at $18.27. The most popular silver items on APMEX.com this week were Silver American Eagles, 1 oz. APMEX Silver Rounds and Silver Canadian Maple Leafs.

Platinum:
Spot platinum prices opened this week at $1,517.00 and ended the week up $23.20 at $1,540.20. Platinum investors showed the most interest in 1 oz. Pamp Suisse Platinum Bars, Platinum American Eagles and 5 gram Credit Suisse Platinum Bars this week.

Palladium:
Spot palladium prices opened this week at $428.00 and ended the week up $22.10 at $450.10. Palladium Canadian Maple Leafs and Lewis & Clark design 1 oz. Palladium Bars were the most popular palladium products on APMEX.com this week.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week, in honor of the beginning of the World Cup in South Africa, we will examine the South African Gold Krugerrand.

The Krugerrand was the first modern gold bullion coin ever struck by any nation. These coins were originally minted in 1967 to help South Africa sell some of its vast gold reserves to investors around the world. The Krugerrand was also the world’s first gold coin that weighed exactly 1 Troy ounce and many worldwide investors purchased these coins to add a precious metal investment to their portfolios. These beautiful coins are struck in 22-karat gold and weigh just over one ounce. The additional copper alloy was added to make the coins harder and more resistant to scratches. This alloy gives the Krugerrand its distinctive color. Krugerrands have been continuously minted in South Africa since 1967.

On the obverse, or front, of these coins is a portrait of Paul Kruger, the last President of the Republic of South Africa. The reverse, or back, of this coin depicts a Springbok Antelope, which is one of South Africa’s national symbols. The name “Krugerrand” is a combination of Paul Kruger’s name and the word “rand” which is one of the monetary units of South Africa. These attractive coins are backed by the government of South Africa for their purity, content and fineness. Krugerrands have also been minted in ½ Troy Ounce, ¼ Troy Ounce and 1/10th Troy Ounce sizes as well as having been struck in both Uncirculated and collector’s Proof conditions.

APMEX offers a great selection of South African Krugerrands dated the current year and in several prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 20 or more will be delivered in special mint tubes. Krugerrands make an excellent addition to investment portfolios and are recognized worldwide for their lasting value.

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Market Recap 5/21/10

Stocks plunged earlier this week as more investors woke to the possibility that economic problems such as Europe’s debt crisis might spread around the world and stop the growing recovery in the U.S., according to The Associated Press. Among the major indexes seeing losses was the Dow, which saw its biggest one-day drop since February 2009. “The economic recovery story has started to look like a mirage and the new reality is a return to credit crunch conditions, like those seen during the financial crisis,” said Tom Samuels, manager of the Palantir Fund in Houston. “If that’s correct, stock prices are well ahead of economic reality.” The market recovered on Friday after briefly dropping below the 10,000 mark.

The euro plunged to a four-year low Tuesday, sliding below $1.22. Reports that Germany will issue new restrictions on some types of bearish bets on stocks and bonds sparked uneasiness in financial markets, reported The Wall Street Journal. Germany’s financial regulators said they are banning naked short-selling of certain euro-zone debt offerings and credit default swaps as well as some financial stocks. Under naked short selling, the shares being sold aren’t borrowed in advance. The practice came under fire at the height of Greece’s struggle to refinance its debt, with many euro-zone governments saying such transactions artificially inflated Greek funding costs.

Gold prices dipped Friday providing investors with additional incentive to purchase the yellow metal in a bid against inflation and economic uncertainty. This price dip comes just one week after gold set a new all-time high. Many experts continue to look for another gold rally, some of whom predict that gold could reach unheard of levels. The current price contraction has fueled a massive buying spree which has carried over to silver as well.

Gold:
Spot gold prices opened this week at $1,234.80. The high during the week was on Monday, May 17th, at $1,242.80, while the low for the week occurred on Friday, May 21st, at $1,166.00. Gold ended the week down $55.70 at $1,179.10. This week, the most popular gold products were Gold American Eagles, 2010 Gold Buffalos and 1 gram Sunshine Mint Gold Bars.

Silver:
Spot silver prices opened this week at $19.38. Silver reached a high of $19.45 on Monday, May 17th, while the low for silver occurred on Friday, May 21st, at $17.41. Silver ended the week down $1.73 at $17.65. Popular silver items this week included Silver American Eagles, 1 oz. APMEX Silver Rounds and Silver Canadian Maple Leafs.

Platinum:
Spot platinum prices opened this week at $1,725.20 and ended the week down $212.70 at $1,512.50. The most popular platinum items this week were 1 oz. Pamp Suisse Platinum Bars, Platinum American Eagles and 1 oz. Platinum Koalas.

Palladium:
Spot palladium prices opened this week at $529.40 and ended the week down $91.30 at $438.10. This week, palladium investors concentrated their purchases on 1 oz. .999 Fine Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week, we are featuring Silver Mexican Libertads.

Silver Mexican Libertads are 1 ounce bullion coins minted in .999 fine silver and are some of the most beautiful silver coins in the world. The reverse depicts two key symbols of the Mexican people. The Independence Angel is in the forefront while the famous Mexican volcanoes, Popocatepetl and Iztaccihautl, named after the legend of two lovers, are in the background. Built to commemorate the centennial of the beginning of Mexico’s War of Independence, The Independence Angel, commonly known as El Angel, is one of the main historic monuments in Mexico and is considered the defining symbol of Mexico City.

The obverse of the Silver Mexican Libertad features the National Emblem of Mexico surrounded by the legend “Estados Unidos Mexicanos.” Outlining this inscription, along the contour of the frame of the coin is the reproduction of various emblems used throughout Mexico’s rich cultural history.

Silver Libertads are available in 1, 2 and 5 Troy Ounce coins and have been minted every year since 1982. They are also minted in a proof (collector’s) version.

Silver Mexican Libertads are scarce in the United States and are a wonderful addition to the portfolios of investors and collectors alike.

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Could Gold Reach $5,000?

Here’s some important news for gold enthusiasts watching the current bull market; there are those who believe that it’s reasonably possible that the spot price of gold could soon top $5,000 an ounce.

“The potential level of a new peak can be estimated in several ways,” reports Reuters. “Based on consumer price inflation, the $875 per ounce high seen in 1980 is equivalent to around $2,400 today, almost twice the current gold price.” The same Reuters story further explains, “The world’s economic output has increased about six-fold since 1980. Scale up the peak 30 years ago by that multiple, and the gold price could top out at around $5,300.”

Another factor that can contribute to the increase in the price of gold is supply and demand. Right now, in Europe, the demand is extremely strong. The Austrian Mint has reported selling more gold in the two weeks following April 26 than it did in the entire first quarter of 2010 because of soaring demand in Europe. According to Kerry Tattersall, the Austrian Mint’s marketing director, “The mint sold 243,500 ounces of gold in coins and bars in that period, compared to 205,000 ounces in the entire first three months of the year.”

To put this kind of growth into proper perspective, this is a 663.85% increase in daily sales demand over the past two weeks compared to the average daily demand for the first quarter. “The mint has started working in three shifts again, minting coins and bars around the clock to keep pace with demand,” Tattersall said. “Currently we don’t have anything in stock. We sell our entire daily production immediately.” Even with this increased production, it is difficult to determine the exact level of current demand since we have not seen the excess inventory threshold. With the continued controversy of the bailout for Greece, Spain and Portugal, combined with mixed results in the U.S. markets, it seems that the gold bull may continue to run up new highs in the future. So whether the spot price of gold climbs moderately or exceeds the $5,000 mark, only time will tell. However, the general consensus of a number of analysts seems to be that gold will continue to go up for the foreseeable future because it is so effective at protecting the assets of hard-working individuals.

Disclaimer: The American Precious Metals Exchange, Inc. (APMEX) is not a registered investment advisor. This information is not a solicitation to buy or sell any precious metal products. Readers are advised that the material contained herein should be used solely for informational purposes and that they should contact their investment advisor to help them determine the proper course of action suited to their particular situation.