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 11/12/10

The Dow Jones Industrial Average ended the day down more than 90 points, as the market reacted to the threat of rising interest rates in China. Investors locked-in their profits and all the major indexes fell accordingly. The Canadian market faced a similar downward situation, also due to China fears.

US Consumers gained confidence in the economy for the first time in three months. The Reuters/University of Michigan survey of consumer sentiment rose to 69.3, still lower than the 5-year average of 88.9, which ended in December of 2007, when this current recessionary period began. Retailers hope that this consumer sentiment holds as we head into the holiday buying season.

Precious metal prices had a roller-coaster of a week! Gold started this week at the $1,394.00 level, peaked at an all-time high on Tuesday of $1,424.60, and then ended the week just under $1,370.00. Silver shared a similar fate also peaking at a 30-year high on Tuesday of $29.35 per Troy Ounce. Obviously, some short-term investors locked-in some of their profits. Many long-term investors see the current weakness only as a strong buying opportunity.    

Gold:
Spot gold prices opened this week at $1,394.90. The high during the week was on Tuesday, November 9th, at $1,424.60, while the low for the week occurred on Friday, November 12th, at $1,359.30. Gold ended the week down $25.10 at $1,369.80. This week, the most popular gold bullion products were 2010 1 oz. Gold American Eagles, 2010 1/10 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars.

Silver:
Spot silver prices opened this week at $26.79. Silver reached a high of $29.35 on Tuesday, November 9th, while this week’s low for silver occurred on Friday, November 12th, at $25.76. Silver ended the week down $0.72 at $26.07. 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 1 oz. APMEX Silver Rounds remain popular silver investments.

Platinum:
Spot platinum prices opened this week at $1,768.60 and ended the week down $84.60 at $1,684.00. Popular platinum products online this week were, 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles.

Palladium:
Spot palladium prices opened this week at $688.90 and ended the week down $7.90 at $681.00. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs remain very popular, but in short supply.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the section on Austrian Silver Philharmonic coins.

The Silver Philharmonic, Europe’s leading bullion coin, was created by the Austrian Mint. The Silver Austrian Philharmonic in the same design as the classic gold bullion coin. The obverse depicts the great organ in the Golden Hall in Vienna’s concert hall of the Vienna Philharmonic Orchestra. A grouping of musical instruments representing the Vienna Philharmonic Orchestra, can be seen on the reverse of the coin.

The face value of the coin is in Euros, and the weight, alloy purity and year of issue are also inscribed on this side of the coin.  These beautiful silver coins were first minted in 2008, from .999 fine silver.

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Market Recap 11/5/10

The Dow Jones Industrial Average ended the day up just over 9 points, as the market failed to continue its strong momentum this week. Friday’s activity was not reflective of the impressive showing throughout the week based on the Federal Reserve Bank’s plan to boost the economy with $600 billion worth of Government Bond purchases.  But even a stronger than expected jobs report, adding 151,000 jobs in October, couldn’t rally the Market higher on Friday.

The Federal Reserve’s plan to purchase Government Bonds drove the 30-year bond higher but also drove the two-year and five-year notes to record lows. The Federal Open Market Committee said that the Fed will expand purchases at the rate of about $75 Billion a month through June 2011.

Precious metal prices continued to climb higher and higher again this week. Gold and Silver both neared important milestones. Gold hit an historic high of $1,398.90 on Friday, while Silver reached a 30-year high of $26.94. Gold had hit 17 new highs over the last five weeks based, at first, on speculation about the Fed’s actions and then on the actual announcement. What will be the newest predictions on the prices of these precious metals now, given their new highs? 

Gold:
Spot Gold prices opened this week at $1,351.10. The high during the week was on Friday, November  5th, at $1,398.90, while the low for the week occurred on Wednesday, November 3rd, at $1,327.10. Gold ended the week up $43.80 at $1,394.90. This week, the most popular Gold bullion products were 2010 1 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 oz APMEX Gold Bars.

Silver:
Spot Silver prices opened this week at $24.61. Silver reached a high of $26.94 on Friday, November 5th, while this week’s low for Silver occurred on Wednesday, November 3rd, at $23.94. Silver ended the week up $2.18 at $26.79. 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 $1,711.30 and ended the week up $57.30 at $1,768.60. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular purchases this week.

Palladium:
Spot Palladium prices opened this week at $649.00 and ended the week up $39.90 at $688.90. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs continue to keep the interest of 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 section on Pamp Suisse Gold Products.

PAMP is a French acronym for “Artistic Precious Metal Products.” PAMP is one of the world’s leading independent refiners of precious metal products. In 1977, PAMP established its refinery in the Castel Saint Pietro in Switzerland. Their die-struck bars are made to exacting standards and have been considered “Good Delivery” bars by the London Bullion Market Association since 1987. All of PAMP’s bars are struck in .9999 quality and fineness.

The PAMP Gold bars are often struck with the very attractive likeness of the ancient Roman goddess “Fortuna,” who was believed to rule good luck. The bars are often available in sizes ranging from a tiny 1 Gram up to a large 10 Troy Ounces.

Market Recap 10/22/10

The Dow Jones Industrial Average ended the day down 14 points, while the NASDAQ and the S&P 500 were slightly higher. But the dark cloud hanging over the financial markets is the impending currency war looming in South Korea at the G-20 meeting. The finance ministers of the G-20 nations are moderating the financial dispute between the U.S. and China. The dispute centers on China’s unwillingness to let its currency appreciate in the face of other world currencies. The ministers do not welcome the U.S. plan, proposed by Treasury Secretary Tim Geithner, to set rigid numerical targets to stabilize economies.

The U.S. Treasury is auctioning off $109 BILLION in new notes and bonds beginning next week. There will be an assortment of 2-year, 5-year, 7-year notes as well as some inflation-protection bonds due in 2015. A copy of an upcoming U.S. Treasury offering is reproduced here.

This was an interesting week for precious metals. Gold and Silver both ended the week lower than they began, but Platinum and Palladium both rose a bit. That fact reinforces the sage advice about diversification. You diversify your investment holdings to include a precious metals position – shouldn’t you also diversify within your precious metals holdings as well? The Managing Director of Barclays Capital predicted that Gold may reach $1,850.00 per Troy Ounce by December 2011. This is simply the latest in a long line of predictions about the longer term view of the price of Gold.    

Gold:
Spot gold prices opened this week at $1,370.30. The high during the week was on Monday, October 18th, at $1,373.60, while the low for the week occurred on Friday, October 22nd, at $1,315.60. Gold ended the week down $41.90 at $1,328.40. This week, the most popular gold bullion products were 2010 1 oz. Gold American Eagles, 2010 1/10 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars.

Silver:
Spot silver prices opened this week at $24.36. Silver reached a high of $24.51 on Tuesday, October 19th, while this week’s low for silver occurred on Friday, October 22nd, at $22.84. Silver ended the week down $1.04 at $23.32. 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 $1,695.70 and ended the week down $15.90 at $1,679.80. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular this week with investors.

Palladium:
Spot palladium prices opened this week at $591.50 and ended the week up $1.60 at $593.10. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs remain very popular.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the section on Platinum Bars and Rounds

Platinum is one of the rarest elements in the Earth’s crust and it is significantly rarer than either Gold or Silver. It occurs in some nickel and copper ores along with some other deposits, mostly in South Africa, which accounts for 80% of the world production.

For a number of decades, Platinum bars were the standard medium of investment in this precious metal. But the striking of the Platinum Canadian Maple Leafs in 1988 and then the Platinum American Eagle coins in 1997 caused a significant interest in this precious metal in all forms. As with Gold and Silver, Platinum bars and rounds are generally cheaper than Platinum coins, which are issued by a number of countries now.

To make investing in Platinum affordable for most any budget, Platinum bars come in a variety of sizes from as small as 1 Gram to as large at 50 Troy Ounces.

Market Recap 9/24/10

(Editor’s Note: This report is being written early in the day as APMEX is attending the Equity Trust Networking Conference in Orlando, FL.) The Dow Jones Industrial Average started off the last trading day of the week up more than 150 points. The Commerce Department released a report stating that orders for durable goods were up over 2 percent in August. The actual number was a decrease of only 1.3 percent, but if transportation is excluded, there is an actual rise of over 2 percent. It was the largest increase in five months.

The Associated Press reported that sales of new homes had their second worst month on record during August. This means that in spite of better economic news elsewhere, the housing market remains a weak spot for the economy. The Commerce Department reported that new home sales in August were unchanged from July 2010 and that sales were down by 29 percent from the same month a year earlier. High unemployment, difficult to obtain mortgage credit and uncertainty about home prices have dried up the demand for new homes.

The biggest news on this day was that GOLD prices broke through the psychological barrier of $1,300.00 per Troy Ounce. This, again, was another ALL-TIME high record. Pushing Gold prices were investors seeking protection of their wealth and an investment alternative to the weakening US dollar.  Likewise, the price of SILVER also continued its climb to nearly $21.50 per Troy Ounce. While not an all-time high, this is a 30 year record price for Silver.  Investors who have added these precious metals to their portfolios are surely reaping the benefits of their decisions!

Gold:
Spot gold prices opened this week at $1,275.70. The high during the week was on Friday, September 24th, at $1,301.60, while the low for the week occurred on Tuesday, September 21st, at $1,273.50. Gold ended the week up $22.60 at $1,298.30. This week, the most popular gold bullion products were 2010 1 oz. Gold American Eagles, 2010 1/10 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars.

Silver:
Spot silver prices opened this week at $20.80. Silver reached a high of $21.48 on Friday, September 24th, while this week’s low for silver occurred on Tuesday, September 21st, at $20.52. Silver ended the week up $0.70 at $21.50. 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 $1,620.00 and ended the week up $25.20 at $1,645.20. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular this week with investors.

Palladium:
Spot palladium prices opened this week at $545.00 and ended the week up $16.00 at $561.00. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs remain very popular.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the IRA Acceptable 10 Oz, 32.15 (Kilo)Oz and 100 Oz APMEX Silver Bars.

Not all precious metal products can be held in a Precious Metal Individual Retirement Account (IRA), but these products certainly can. These APMEX-brand 10 Troy Ounce Silver bars, Kilo (32.15) Troy Ounce and the 100 Troy Ounce Silver bars have been manufactured by an ISO–certified minting company to exacting ISO certification standards and are acceptable for placement in precious metal IRAs.

You may contribute to an IRA within the IRS guideline amounts or you may roll over any portion of an existing IRA into a Precious Metal IRA at anytime and in any amount. Adding these products will bring some diversification to your retirement income.

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 8/27/10

Although the Dow Jones Industrial Average had closed below the magical 10,000 plateau earlier in the week, it rallied on Friday to close at 10,150. But, most other financial news was not was not quite as rosy. The Commerce Department reported on Friday that our Gross Domestic product, the value of all the nation’s goods and services, rose at an annualized seasonally adjusted rate of 1.6% from April to June.  While that was an increase, it was considerably lower than the Government’s predicted estimate of 2.4%. Many analysts believe that this is just further evidence that the recovery is losing steam.

The nervousness over the economy even has caught the eye of Federal Reserve Chairman Ben Bernanke. Speaking from a meeting in Jackson Hole, Wyoming, Bernanke acknowledged that the pace of economic growth “recently appears somewhat less than vigorous”, and he vowed that the Central Bank would take new steps to bolster the economy if conditions worsen. Bernanke promised that the Fed might even take the unusual step of launching a major program to buy securities, among other steps to try to strengthen an economic recovery.

To make matters even worse, sales of previously occupied homes last month fell to the lowest level in 15 years. To quote the Associated Press, “It’s starting to feel like another recession!”

While news on many economic fronts is bleak, the World Gold Council issued a press release this week that offered very positive news for Gold investors. Among the salient points in the press release:

  • Retail Investment will continue to be a substantial source of gold demand in Europe.
  • Demand for gold in China is expected to grow considerably. It seems that the Chinese Government is trying to foster the development of a domestic gold market. That would add to the growth of gold ownership in China among Chinese consumers.

The demand for gold certainly seems to be on the rise offshore.

Gold:
Spot gold prices opened this week at $1,228.30. The high during the week was on Thursday, August 26th, at $1,246.00, while the low for the week occurred on Tuesday, August 24th, at $1,211.70. Gold ended the week up $10.20 at $1,238.50. This week, 2010 1 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars sold in significant volumes.

Silver:
Spot silver prices opened this week at $18.03. Silver reached a high of $19.34 on Friday, August 27th, while this week’s low for silver occurred on Tuesday, August 24th, at $17.74. Silver ended the week up $1.11 at $19.14. This week, silver investors concentrated their purchases at APMEX.com on 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 1 oz. APMEX Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,513.90 and ended the week up $24.00 at $1,537.90. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles continue to be popular.

Palladium:
Spot palladium prices opened this week at $479.40 and ended the week up $26.70 at $506.10. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs are popular palladium products with bullion investors.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review Austrian Silver Philharmonic coins.

The Austrian Silver Philharmonic coins are the very first silver bullion coins that are denominated in Euros. This beautiful coin is struck in pure silver which is 999.9 fine. It is issued annually and it is used as an investment product.

A sophisticated design of musical instruments representing the Vienna Philharmonic Orchestra, as well as the text Wiener Philharmoniker (“Vienna Philharmonic”), can be seen on the reverse of the coin.

The subject of the obverse is the great organ in the Golden Hall in Vienna’s Musikverein, the concert hall of the Vienna Philharmonic Orchestra. The face value in Euros, the weight, alloy purity and year of issue are also inscribed on this side of the coin.

The design of the silver coin is identical to that of the gold coin, except for its face value of 1.50 euro. The Austrian Silver Philharmonic coin is considered one of the world’s most beautiful coins.

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