Market Recap 4/8/11

The week started with Silver reaching a fresh 31-year high, over $38/oz. Who knew it would be a sign of things to come? The theme with precious metals this week was new highs. Silver hit first on Monday, thanks in part to the looming U.S. government shutdown, inflation fears (oil rose over $108), a weakening U.S. dollar, and the geopolitical situation in North Africa and the Middle East.

APMEX CEO Michael Haynes appeared on CNBC to talk about the importance of precious metals in your portfolio. He was also introducing our new mobile platform, mobile.apmex.com, which is available on your Android-powered smartphone, Blackberry, or iPhone. China raised their interest rates Tuesday in another effort to combat inflation, something the European Central Bank echoed later in the week. Ben Bernanke continued to downplay inflation, which seemed to increase inflation fears. Radioactive fish were discovered near the Japanese nuclear power plant that continues to have issues, creating fears of radioactive food imports in other countries. These issues drove Gold to a record high (over $1,450/oz.) and Silver to a new 31-year high (over $39/oz.) early in the week.

Matthew West of CNBC pieced together a great article on Gold, explaining the bullish sentiment towards precious metals, as well as why Gold as a hedge is here to stay. The radioactive water leak in Japan was plugged Wednesday, but many tons of contaminated water was being pumped back into the ocean due to a lack of storage space at the facility. The conflict in Libya hit a bump as the Libyan rebels were unhappy with NATO support. There were also possible mistakes made by NATO strikes that hit rebels instead of Moammar Gaddafi’s forces. Gold and Silver closed at new highs yet again, with Gold crossing the $1,460/oz. mark and Silver inching closer to $40/oz. by midweek.

After Moody’s downgraded Portugal’s debt rating Wednesday, reports surfaced that against their best efforts, they will end up requesting a bailout before June. This didn’t come as much of a surprise to investors, as seen by precious metals hardly reacting to the news. The ECB officially raised interest rates by 25 basis points, acting as fresh fuel to the fire of inflation fears. A 7.4-magnitude aftershock rocked Japan, hampering production across the country thanks to power outages. On Thursday, Gold closed lower than Wednesday, however it did hit an intraday record high at $1,466.50. Silver closed at a fresh 31-year high as well.

Friday started with news that Euro-zone finance ministers will hold Portugal to a harder reform to receive a bailout. The U.S. government shutdown deadline is here, and there seems to be no hope in sight to avoid it. Some 800,000 federal workers will be furloughed. The impending shutdown seems to have investors flocking to the safe haven appeal of precious metals, as Gold and Silver were already at new highs in early morning trading. Gold topped $1,470/oz., while Silver strongly broke through the $40/oz. ceiling.

Gold:
Spot Gold prices opened this week at $1,429.20. The high during the week was on Friday, April 8th, at $1,476.40, while the low for the week occurred on Monday, April 4th, at $1,429.10. Gold ended the week up $47.20 at $1,476.40. 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 $37.91. Silver reached a high of $41.03 on Friday, April 8th, while this week’s low for Silver occurred on Monday, April 4th, at $37.81. Silver ended the week up $3.09 at $41.00. 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 $1,768.50 and ended the week up $48.00 at $1,816.50. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $775.50 and ended the week up $21.00 at $769.50. 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 Austrian Silver Philharmonic bullion coins.

One of the most beautiful Silver coins on the market, the Austrian Silver Philharmonic has begun to attract attention from collectors and investors all over the world. Minted by the Austrian Mint in Vienna, the Austrian Silver Philharmonic coins are .999 pure Silver and are the first Silver bullion coins denominated in Euros. While the Austrian Silver Philharmonics are Silver bullion coins that can serve as investment opportunities, they are also striking additions to any coin collection.

The Silver Austrian Philharmonic coin features the same design as the Gold Vienna Philharmonic, Europe’s leading Gold bullion coin. Like the Gold Philharmonic, the Silver Philharmonic pays tribute to one of Vienna’s most iconic symbols: the Vienna Philharmonic Orchestra. Housed in Vienna’s Golden Hall, the Philharmonic Orchestra is considered one of the finest orchestras in the world. In honor of this prestigious orchestra, the Philharmonic coin’s design features a theme based on Vienna’s musical heritage. The obverse of the Silver Philharmonic coin displays the Great Pipe Organ in Vienna’s Golden Hall. The reverse depicts a medley of selected instruments from the world-famous orchestra. Through these designs, the Silver Philharmonic allows you to commemorate the mastery of classical music in Vienna.

If you are looking to purchase the stunning Austrian Silver Philharmonic coins, shop APMEX’s wide selection of Silver Philharmonics. APMEX makes it easy to buy Silver by offering competitive Silver prices on all Silver products and a Satisfaction Guarantee.

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Market Recap 4/1/11

Monday began with Five Things to Watch in the Market this Week. 1) Stocks posted huge gains last week as the volatility index dropped. Will this carry into Monday despite continuing geopolitical risks, more radiation concerns out of Japan and new housing data? 2) What will the latest news be out of Japan? 3) The conflict in Libya and President Obama’s explanation of why and how long we will be there. 4) The New York Times attempt to monetize their online content. 5) Will the housing numbers be as bad as expected and will analysts begin to officially call it a double dip?

The stock market did continue to move up throughout the entire week despite a small pull back on Thursday. There was more bad news coming out of Japan as plutonium was found in the soil at a nuclear plant. President Obama spoke, but with little detail. The conflict in Libya is possibly easing…or at least the news coverage is waning.

Whether or not we say the words double-dip as it applies to the housing recovery or lack thereof, more disturbing data was released this week. The S&P Case-Shiller report showed prices in the top 20 US markets dipped another 3.1% in January. For those unfamiliar with this report, please consider that this is a three month running average, so this data includes October and November when interest rates were at historic lows. “Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future,” says Standard and Poors’ David M. Blitzer. “The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery. At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing.”

The above report, falling consumer confidence and even oil prices going up could not dampen the appetite for risks, as the stock market continued to rise. The appetite for risks may be growing, but some analysts are sounding an alarm. JP Morgan is loaning AT&T 20 billion dollars to help finance their purchase of T-Mobile. Moody’s is warning that this could be an early warning sign of another credit bubble as this will encourage other banks to assume too much risks in order to capture the lucrative underwriting fees.

The big news on Friday is that the economy added 216,000 jobs and unemployment falls to 8.8%. This report will be viewed as positive for the equity markets and bearish for Gold and Silver. We should keep in mind that we have still recovered only a fraction of the 8 million jobs lost in the recession and many economists say we need 250,000 – 300,000 in job gains each month to have any measurable impact.

Gold:
Spot Gold prices opened this week at $1,430.90. The high during the week was on Thursday, March 31st, at $1,440.00, while the low for the week occurred on Monday, March 28th, at $1,410.10. Gold ended the week down $1.70 at $1,429.20. 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 $37.42. Silver reached a high of $37.98 on Thursday, March 31st, while this week’s low for Silver occurred on Monday, March 28th, at $36.44. Silver ended the week up $0.49 at $37.91. 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 $1,750.80 and ended the week up $17.70 at $1,768.50. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $752.00 and ended the week up $23.50 at $775.50. 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 bullion coins from the Perth Mint.

The Perth Mint is Australia’s oldest currently operating mint. The Perth Mint traces its history to Great Britain’s Royal Mint, which opened the Perth branch of the Royal Mint on June 20, 1899. First established for the purpose of refining Gold and producing British Sovereigns as currency for the British Empire, the Perth Mint remained under British control until 1790. On July 1, 1790, the Perth Mint became a statutory authority of Western Australia. Now, the Perth Mint is owned by the Gold Corporation, a company owned by the Western Australian government. Under the Gold Corporation Act of 1987, the government of Western Australia mandated that the Gold Corporation direct and operate the Perth Mint.

Since its foundation, the Perth Mint has been producing and refining large quantities of Gold and other precious metals. Today, the Perth Mint is still highly involved in the Gold industry and the production of Australian precious metals legal tender. However, the Perth Mint is also involved in manufacturing a wide array of numismatic items for collectors and investors. The coins in the Perth Mint’s numismatic collections feature some of the most dazzling designs in the world. Discover the wonder of Australia with the magnificent Australian Gold and Silver coins produced by the Perth Mint.

APMEX offers a diverse selection of Silver numismatic coins manufactured by the Perth Mint. At APMEX, you can find coins from the following Perth Mint collections: Deadly & Dangerous Coins, Australian Sea Life Coins, Extinct Animal Series Coins, Famous Battles in History, and Discover Australia: The Dreaming Series Coins. These coins bring the Australian animal kingdom and historical events to life. Splashed with brilliant colors and stunning designs, the Perth Mint coins belong in your coin collections. To add these high-quality Silver coins to your coin collection today, shop APMEX’s diverse assortment of Silver products available from the world famous Perth Mint.

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Market Recap 3/25/11

The news this week began with good news out of Japan, power was restored to two of the failed reactors at the Fukushima Dai-Ichi nuclear plant in Japan. The combination of the power being restored and the tons of sea water sprayed over the reactors have lowered the temperatures of pools holding spent fuel rods in the past 24 hours. The struggle to prevent a meltdown in the reactor continues as they try to restore power to two other reactors. A noticeably somber Prime Minister called this situation “very grave and serious.”

The conflicts in the Middle East and North Africa get headlines most every day. Gaddafi is showing no signs of giving up and the Western Nations decide to go in with military force and a no-fly zone. Adding to the tensions, a bomb exploded in Jerusalem killing one woman and injuring 20 others.

On Thursday, Gold and Silver prices both reached record prices before profit takers moved in and drove prices down in late afternoon trading. Investors moved into equities again today, as the weekly initial jobless claims came in under 400,000 and the US dollar continued to decline. Central banks are moving away from dollars and buying Gold, which leads to the question, is Gold becoming the world’s reserve currency?

Portugal was in the news, which means the European debt crisis was in the news again. The President of Portugal tried to pass austerity measures to avoid the need of a bail out. The Parliament rejected that idea and basically said “why endure any pain if we can just get free money”. The measure was voted down, their debt rating was lowered two notches and there are grumblings that the other countries might be getting tired of bailing out their failing neighbors. Warren Buffet came out and said that the collapse of the Euro is not “unthinkable.” He believes that every effort will be made to keep this from happening, but “you can’t have three or four or five countries that are in effect free-riding on the other countries.” The GNP of Portugal is no bigger than Connecticut, but the GNP of the European Union is huge and will cause ripple effects worldwide should the union go south.

Gold:
Spot Gold prices opened this week at $1,420.30. The high during the week was on Thursday, March 24th, at $1,448.60, while the low for the week occurred on Tuesday, March 22nd, at $1,419.50. Gold ended the week up $10.60 at $1,430.90. This week, the most popular Gold bullion products were 2011 Gold American Eagles, 1 oz. Pamp Suisse Gold Bars, and 2011 1 oz. Gold Maple Leafs.

Silver:
Spot Silver prices opened this week at $35.35. Silver reached a new high of $38.22 on Thursday, March 24th, while this week’s low for Silver occurred on Monday, March 21st, at $35.36. Silver ended the week up $2.07 at $37.42. 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 $1,724.50 and ended the week up $26.30 at $1,750.80. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $732.00 and ended the week up $20.00 at $752.00. 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 40% Bags of Silver Coins.

Today, a popular and convenient way of investing in precious metals is purchasing bags of US coins containing 40% Silver. As the price of Silver began to increase in the 1960s, the United States government began seeking a more cost-effective alternative to the minting of 90% Silver content coins. In honor of the assassinated President Kennedy, the US Mint began minting half-dollars depicting Kennedy that were 40% Silver instead of 90%. The Kennedy half-dollars consisted of an inner layer containing 79% copper and 21% Silver. This inner layer was clad by an outer layer of 20% copper and 80% Silver. Thus, rather than containing 90% Silver, the Kennedy halves contained a total of 40% Silver and 60% copper.

These 40% Silver Kennedy half-dollars were the last regularly-circulated coins from the US Mint that still contained any Silver. Extremely popular among Americans interested in collecting a memento of President Kennedy, the coins quickly disappeared from circulation after their release. Even after the US Mint increased the production of the coins, the Kennedy half-dollar still remained more of a collector’s item than a widely-circulated coin. While the Kennedy halves are still available from the US Mint, the coins continue to have a limited circulation and primarily meet the demands of collectors.

For investors, $1,000 and $500 face value bags of 40% Silver Kennedy halves minted between 1965 and 1969 are convenient and easy ways to own Silver. Not only are 40% Silver coins legal tender, they are also Silver coins that do not have the high premiums associated with one-ounce Silver bullion coins, such as the Silver American Eagles. Unlike many other methods of investing in precious metals, buying 40% Silver bags is extremely versatile. Investors who purchase Silver bags can trade the bags in units or sell and trade the coins individually.

If you are looking to purchase Silver in a cost-efficient way, the 40% Silver coins from APMEX are a great option. APMEX makes it easy to buy Silver by offering competitive Silver prices on all Silver products.

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Market Recap 3/18/11

Monday began with unsettling news about a Japanese nuclear reactor rocked by a second hydrogen explosion. Unsettling news became the norm all week long as the situation continued to deteriorate. Reports coming out of Japan came under question when the U.S. requested that its citizens move 50 miles away, while the Japanese government told their citizens that 12 miles was sufficient.

Monday was the day Saudi Arabia began sending troops into Bahrain to help quell protests. Some Muslim factions in Bahrain called this an act of war. In Libya, President Gaddafi began stepping up violent attacks against rebel forces. These attacks were so violent that Western nations began to contemplate what actions they might take.

Tuesday was the day Gold showed the world how it behaves in a time of crisis. Initial losses were attributed to investors selling off their gains in precious metals to offset the losses in the global marketplace.  Most analysts accurately predicted a positive move later in the week as investors returned to the Gold’s insurance against market volatility.

On Wednesday there were reports of radiation leaks reaching Tokyo and fires burning in multiple reactors. Today, the focus was on the number three reactor. However, information coming out of Japan has not been consistent, making it difficult to assess the situation.

In other world news impacting markets, Portugal’s debt rating took another hit from Moody’s credit rating agency as it was downgraded another two notches. It is currently three notches away from “junk bond” status.

Friday’s news saw the G-7 come together to weaken the yen and stabilize its rise since the earthquake. This is the first time since 2000 that the G-7 has intervened in such a way. Western powers also came together with the U.N. to declare a no-fly zone in Libya, effectively forcing Gaddafi to call a ceasefire.  President Obama was quoted saying the U.N. resolution would be enforced. When the U.S. prepares for military action, the world turns to Gold as a safe haven.

This may be one of the most volatile markets we have seen in decades. Global equity markets have taken a hit since last Friday’s earthquake.  The Japanese Yen was expected to go down because of a cash infusion expected from the Bank of Japan, but instead, the Yen has unexpectedly climbed dramatically. One would expect gold to rally in these dire circumstances, but the need for cash largely driven by margin clerks, has kept Gold prices down. We expect that the market will remain volatile and uncertain until the nuclear reactor situation draws to a conclusion. Let’s hope it is a good conclusion.

Gold:
Spot Gold prices opened this week at $1,420.60. The high during the week was on Monday, March 14th, at $1,433.50, while the low for the week occurred on Tuesday, March 15th, at $1,380.70. Gold ended the week down $0.30 at $1,420.30. 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 $35.96. Silver reached a high of $36.51 on Monday, March 14th, while this week’s low for Silver occurred on Tuesday, March 15th, at $33.57. Silver ended the week down $0.61 at $35.35. 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 $1,779.00 and ended the week down $54.50 at $1,724.50. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $762.40 and ended the week down $30.40 at $732.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

Precious Metals IRA Opportunities:

Possibly the single most important financial strategy in today’s economy, an IRA, should be the insurance policy that protects your money from inflation and currency devaluation. In a world where the global economy is constantly changing and is affected by various political and social factors, you can find the insurance policy you need by investing your funds in a precious metals IRA. Rather than investing in stocks, bonds, or other forms of investments backed by paper, you can open an IRA backed by the value of precious metals. A more secure option for investment opportunities in an ever-changing world, a precious metals IRA which can never lose all of its value provides some financial security to investors.

By adding precious metals, such as gold, silver, platinum, and palladium, to your IRA, you can find some stability in saving your assets. To assist you in developing a precious metals IRA, APMEX offers a wide selection of products that are eligible for IRAs that can potentially enhance your investment portfolio. At APMEX, you can choose items to place in your IRA from our extensive variety of IRA-acceptable bars, coins, and rounds. To begin setting up an IRA investment plan that will hold its value for years to come, contact our Precious Metals IRA Department at (800) 418-0235. We can help walk you through the process of adding precious metals to your IRA today.

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Market Recap 3/11/11

Monday began with much of the same news as where Friday ended. Oil and Gold prices were both moving upward as fighting in Libya intensified over the weekend. Oil rose to a 29 month high and Silver surged past $36 reaching a 31 year high. Silver has been on the move for weeks and is eyeing the $38-$40 range. Also of interest today was the report that hedge funds and Forex dealers have been placing large bets in record amounts against the U.S. Dollar. Their bets say that the Dollar is losing its safe haven appeal and they believe the European banks will soon raise interest rates.

Tuesday came with the surprise announcement that Carl Icahn was returning $1.76 billion dollars to his outside hedge fund investors. In a letter to these investors Mr. Icahn said that he did not want the burden of managing this money through another downturn. On Wednesday, another story took investors by surprise. Pimco’s CEO Bill Gross announced that they were selling all U.S. Treasury Bond Holdings out of their largest fund. This is a clear indication that Mr. Gross does not feel there will be a QE3 and if the Fed quits buying Treasury Bonds, then who will? Mr. Gross stated, “Bond yields and stock prices are resting on an artificial foundation of QE2 credit that may or may not lead to a successful private market handoff and stability in currency and financial markets.” According to Tyler Durden at Zerohedge, if Bill Gross does think there will be a QE3, it might be time to get out of all security classes, which include bonds and equities.

Thursday the strong pull of the equity markets sinking dragged precious metal prices down. On Friday Dennis Gartman, of the Gartman Letter, had some interesting comments on CNBC explaining why Gold was being dragged down. He mused on the unpredictable nature of the markets. The “Day of Rage” in Saudi Arabia was expected to pressure oil prices upwards but the Japanese earthquake sent oil prices lower. In the blink of an eye, we psychologically shifted from the mind set of too little oil supply to too much oil supply. He stated that this earthquake should prove to be the most expensive natural disaster in history and we still wait to see what damage might occur on the U.S. coasts of Hawaii, California and Alaska.

His comments about Gold prices were particularly interesting. He pointed out that Gold is down, when you might suspect events like this would drive prices up. The reason for this is not fundamental, but a matter of liquidity. With the sharp downturn in the stock market yesterday, margin clerks have been overdriven by their need to come up with cash. “It is a margin clerk situation rather than a rational situation” said Mr. Gartman. This may be why precious metal prices are showing signs of bouncing back in morning trading.

The largest news of the week was the earthquake that hit Japan on Friday. The loss of life and damages incurred are still mounting. I would expect this story to be still in the news next week as the world turns their eyes and their prayers to the Japanese people.

Gold:
Spot Gold prices opened this week at $1,434.10. The high during the week was on Monday, March 7th, at $1,445.70, while the low for the week occurred on Thursday, March 10th, at $1,403.00. Gold ended the week down $13.50 at $1,420.60. 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 $35.71. Silver reached a high of $36.75 on Monday, March 7th, while this week’s low for Silver occurred on Friday, March 11th, at $34.05. Silver ended the week up $0.25 at $35.96. 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 $1,845.80 and ended the week down $66.80 at $1,779.00. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $814.20 and ended the week down $51.80 at $762.40. 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 Platinum American Eagle bullion coins.

First issued in 1997, the Platinum American Eagle Coin is the official platinum bullion coin of the United States. The Platinum American Eagle is the first and only investment-grade platinum coin from the United States Mint. Part of a precious metals portfolio backed by the United States Mint, the Platinum Eagle is unique in that it is the only platinum bullion coin guaranteed by the government for its weight, content, and .9995 purity.

Since their release, the Platinum Eagle Coins have featured the same basic design. Displaying a portrait of the Statue of Liberty, the obverse of the Platinum American Eagle pays tribute to this symbol of freedom and opportunity recognized by people all over the world. The reverse of the Platinum Eagle illustrates an eagle that signifies American pride and security. Available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations, the Platinum Eagles appeal to both collectors and investors alike for the patriotic design and platinum value of the coins. Eligible for precious metals IRA accounts, Platinum American Eagles can potentially enhance any investment portfolio.

APMEX offers a wide selection of Platinum American Eagle Coins that can complement your platinum coin collection or help you set up an investment plan that will never lose all of its value.

 

Market Recap 3/4/11

It was not until Monday night, when reports that the Saudi Arabian stock market fell over 6%, that precious metal prices began to move. Concerns of a “worst case scenario” began to grow and the economic health of the region became questioned. Oil prices moved up and Gold moved along with it. By the end of Tuesday, Gold was at a record high.

In 2010, China imported 5X as much Gold as they did in 2009. On Wednesday, it was reported that they have already reached 200 metric tones this year, which is approximately 40% of their imports from last year. China’s large appetite for Gold appears to be increasing. Gold futures settled at a new record high on Wednesday.

Thursday, the stock market soared and precious metal prices retreated. Venezuela volunteered their assistance to step in and help broker a peaceful resolution in Libya. In addition, the expectation of a positive jobs report on Friday created a renewed sense of optimism. These factors, along with the announcement that the European Bank may raise interest rates, created a flight from safe haven investments.

By Friday the safe haven fight had landed and the stock market plummeted over 150 points before settling – down 88 points. Former Federal Reserve Chairman, Alan Greenspan, while speaking on CNBC this morning noted that “there is no question that the momentum of the economy, leaving out the oil price issue, leaving out the Euro problems that have emerged, and very specifically leaving out the budget problems, this economy is really beginning to pick up momentum.” Those seem to be a lot of problems to leave out.  Mr. Greenspan did go back to this issue and say in so many words, that when you factor them all in, no forecaster knows with any certainty how this will all play out.

Gold and Silver continued to add to their gains this week. Silver is trading at a 31-year high. Oil also continued to climb sparked by new violence in Libya.

Gold:
Spot Gold prices opened this week at $1,411.00. The high during the week was on Wednesday, March 2nd, at $1,441.60, while the low for the week occurred on Monday, February 28th, at $1,407.90. Gold ended the week up $23.10 at $1,434.10. 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 $33.42. Silver reached a 31-year high of $35.73 on Friday, March 4th, while this week’s low for Silver occurred on Monday, February 28th, at $33.26. Silver ended the week up $2.29 at $35.71. 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 $1,808.90 and ended the week up $36.90 at $1,845.80. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $792.90 and ended the week up $21.30 at $814.20. 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 Canadian Silver Maple Leaf bullion coins.

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 the 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, Platinum and Palladium 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 its 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 2/25/11

Monday began with Libyan President Muammar Gaddafi declaring war on his own people. He made it clear that he intended to fight and win or die a martyr. All through the week oil prices began to rise, at one point topping $100 per barrel. Libya and the entire Middle East is a literal powder keg. This region will continue to capture world attention. All week long, we were exposed to tragic and appalling photos of violence in the streets.

It was also reported that home prices fell for the sixth month in a row in December. There is more and more concern about a double dip housing recession. Most experts agree that jobs will not recover until the housing market begins to recover.

Is it possible you have not heard about the battle in Wisconsin between the newly appointed governor and the teachers union? The problem is public pension funds in general with Wisconsin simply drawing attention to a problem so many states now must confront. They have huge public pension fund obligations and no money to pay.

On Thursday and Friday the stock market began to recover after three days of sharp drops. Gold and silver prices retreated on profit taking. Platinum and palladium, which had dropped along with the stock market, began to recover as well.

Gold:
Spot Gold prices opened this week at $1,390.90. The high during the week was on Thursday, February 24th, at $1,418.80, while the low for the week tied on Monday and Tuesday, February 21st and 22nd, at $1,390.10. Gold ended the week up $20.10 at $1,411.00. 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 $32.75. Silver reached a high of $34.38 on Monday, February 21st, while this week’s low for Silver occurred on Friday, February 25th, at $32.06. Silver ended the week up $0.67 at $33.42. 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 $1,840.40 and ended the week down $31.50 at $1,808.90. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles and 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $854.60 and ended the week down $61.70 at $792.90. 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 Silver Britannia.

Following the success of the Gold Britannia bullion coins introduced in 1987, the Royal Mint produced a one-ounce Silver Britannia coin in 1997, with the 1997 Silver Britannias being issued only as proofs with a mintage of 20,000. Since their inception, the Silver Britannia coins have continued to increase in popularity for both their patriotic design and silver content.

Created to appeal to both collectors and investors alike, the design of the Silver Britannia coin pays tribute to British nationalism and pride. The obverse of the 1997 issue of the silver coin features the “Third Portrait” used on British decimal bullion coins dated from 1985 to 1997. In 1998, the obverse design of the Silver Britannia coin changed to depict the “Fourth Portrait,” a more mature likeness of Queen Elizabeth II. The reverse of the Silver Britannia coin illustrates the Standing Britannia, which appears in a horse-drawn chariot and resembles the Roman figure Boudica. The Standing Britannia image was originally engraved by G.W. De Saulles and used on the Gold Britannia coins for most of the issues following 1987. Although special designs and variations have appeared on several issues of the Silver Britannia coins, the Royal Mint seems to have settled on a pattern of alternating the classic Standing Britannia image and a special design on the reverse of the silver bullion coins.

In addition to attracting attention for their lovely design, the Silver Britannia coins are also popular for their silver value. With a face value of two pounds, the silver bullion coins are .958 fine silver, as opposed to the standard British sterling of .925 fine silver. APMEX sells Silver Britannia coins in uncirculated and proof. APMEX makes it easy to buy the Silver Britannia coins of your choice by offering a wide selection of Silver Britannias and competitive silver prices on all silver bullion coins.

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