1.6.12 Weekly Recap

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Gold prices started the week trading higher amid New Year optimism in global markets. It was a volatile week for the precious metal yet prices were still above $1,600 per ounce as the week came to a close.  Analysts remain optimistic over Gold’s performance in the coming year, with many expecting demand for the precious metal to see a boost in response to any quantitative easing by the Federal Reserve and/or European Central Bank. Analysts from Merrill Lynch said this week that they “believe the high cost structure of the global Gold sector should provide support” to the price of the metal.  They expect the price of Gold to average $1,850 an ounce in the coming year.  Even Dennis Gartman of the Gartman Letter changed his view on Gold, becoming “officially bullish” again. He wrote, “The bear run that began in August has now officially ended.”

Geopolitical tension strengthens Gold’s appeal as a safe-haven asset. This was apparent during the past 13 months, with the start of the Arab Spring that spread to Tunisia, Egypt, Libya, Bahrain, Yemen, and others. Now, there are many other situations at play. The ongoing conflict with Iran over the Strait of Hormuz, combined the news that Iran produced its first nuclear rod this week, brought about some safe haven buying of Gold. As the U.S. continued to hit Iran with sanctions, the Middle-East country threatened the United States Navy with military action if a departing U.S. aircraft carrier returns.  Iranian army chief Salehi said, “I advise, recommend, and warn [the U.S.] over the return of this carrier to the Persian Gulf because we are not in the habit of warning more than once.” Meanwhile, the financial sanctions imposed by the United States and the European Union (EU) started to affect Iran negatively by cutting off the ability of Iran to collect payment for oil exports. The European Union came to a preliminary agreement with the U.S. to ban imports of Iranian oil. However, many countries in the EU are dependent on the oil imports. Paul Stevens, economist and emeritus professor at Dundee University in Scotland told CNBC, “”Greece’s economy is already mired in deep recession and could feasibly collapse entirely if the sanctions were imposed. But the impact that would have on countries like Italy and Greece would be enormous, and the Greeks are not going to slit their own throats for the sake of an EU sanction when Iran is the only country willing to offer them oil on favorable terms. It would utterly destroy the Greek economy.”

With the European Central Bank (ECB) continuing to lend money at a very low 1% interest rate to European banks, the opinion is divided over whether that cash flow is actually helping Europe’s sovereign debt crisis, or if the money is just being hoarded by banks. Of issue is a lack of trust in lending between banks, and that lack of trust has the ECB fearing a potential credit crunch within the eurozone, which would be detrimental to the hopes of climbing out of the debt crisis. Renewed concerns about European economic issues caused the euro to plunge to its lowest point in 16 months on Thursday, resulting in a corresponding downturn of global stocks and commodities. Against the U.S. dollar, the European currency dropped below $1.28 today, a level not seen since September 2010. Explaining the euro drop, Marc Chandler, chief currency strategist with Brown Brothers Harriman, said, “I think the market’s primarily concerned about the rollover (of debt) risk from the sovereigns as well as the banks’ capital. You also had weaker European economic data.” Chandler said these concerns, although not new, have flared in response to efforts by Unicredit, Italy’s largest bank, to attract investors by offering a 43% discount on new shares. According to Chandler, “People expect a downgrade any day. Next week, you have Spain and Italy coming to the bond market. Full liquidity hasn’t really returned to the market. The euro is falling against the dollar and also making new lows against sterling and the yen.” European Central Bank policymaker Athanasios Orphanides said that he thinks banks are paying too much for the economic collapse in Greece.  He recently asked leaders in the eurozone to go back on plans which would make private sector investors – the banks – take a large share in reducing Greece’s debts.  Orphanides said that although the Greek government might suffer, “by restoring trust in the eurozone, it would reduce the financing costs of other eurozone governments.” This idea is unlikely to gain much steam, however, as the main force in the eurozone now is Germany, the country that was very much behind the banks taking a haircut on Greek debt.

Germany sold 4.06 billion euros of government bonds this week, with a higher demand than previously recorded in November. Also this week, France sold 8 billion euro’s worth of higher-yield bonds, and the European Financial Stability Fund sold 3 billion euros in three-year bonds. This past December, Standard & Poor’s warned German and French governments of possible bond rating downgrades, and some economists have said that France might be the first to lose its AAA credit rating. French President Nicolas Sarkozy and German Chancellor Angela Merkel plan to meet next week to review Europe’s new fiscal agreement before the EU summit planned for the end of this month. Europe seems to be heading towards a recession with the austerity measures in place, which has caused citizens to be more hesitant to spend money accompanied by an increased unemployment rate. Jennifer McKeown at Capital Economics commented on the down fall of Europe by saying, “Things are really starting to slow down. There’s an underlying economic downturn going on at the same time as the peripheral debt crisis continues. Even the strongest parts of the euro-zone economy are beginning to falter. We see the euro zone beginning to break up, perhaps as soon as this year.”

A key U.S. manufacturing index for December was released that shows evidence of growth. The demand for automobiles and an increase in holiday sales has helped pave the pathway for a U.S. economic recovery. The U.S. housing market  has been a concern since 2008. The Mortgage Bankers Association reported that applications for U.S. home mortgages fell 4.1% in the last week of December, along with a 9.6% drop in purchase loan requests and 2.5% drop in refinancing requests. The housing market is an important facet of the U.S. economy and should reflect positive numbers to show a full economic recovery. U.S. stock futures rose on Friday after the nonfarm jobs report by Automatic Data Processing Inc. was released. Economists expected the number of jobs added in December to reach 150,000, and the report showed 200,000 jobs added. The value of the U.S. dollar also rose.

There were many factors driving uncertainty in the market in 2011. With a new year to tackle new problems, the eurozone crisis remains intact with no solution in sight. This ongoing crisis has driven borrowing costs to unsustainable levels and created concern for a banking crisis in Europe. In an outlook note on 2012, David Simmonds with the Royal Bank of Scotland wrote, “The eurozone crisis is life-threatening because there is too much debt, too little growth and huge intra-zone trade imbalances — belated resurrection of fiscal rules is no panacea. We are in a multiyear de-leveraging world with multiyear low-growth consequences, so mistrust most the quick-fix, free-liquidity addicts who seize on each emergency monetary policy response as a cure-all.”

WEEKLY SPOT PRICES

Gold: Spot Gold prices opened this week at $1,600.50. The high was on Friday, Jan. 6th at $1,632.30, while the low for the week occurred on Tuesday, Jan. 3rd at $1,566.80. Gold ended the week up $17.90 at $1,618.40. 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 $29.52. Silver reached a high of $29.74 on Wednesday, Jan. 4th, while this week’s low for Silver occurred on Tuesday, Jan. 3rd at $27.91. Silver ended the week down $0.74 at $28.78. 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 $1,429.40 and ended the week down $22.40 at $1407.00. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium: Spot Palladium prices opened this week at $663.60 and ended the week down $46.40 at $617.00. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

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Certified Morgan Dollars

One of the most famous and collectible American coins is the Morgan Silver Dollar, produced from 1878-1904 and in 1921. The 90% Silver coin was also popular for trading. The coin is labeled in reference to the celebrated design by George T. Morgan, a pupil of William Wyon of the Royal Mint in London. The coin’s obverse depicts a profile of Lady Liberty wearing a band on her head with the word “LIBERTY” inscribed. Her profile is surrounded by the words “E Pluribus Unum” and the date of mintage. The coin’s reverse features an eagle carrying an olive branch and arrows. Morgan’s initial, M, can be found both on the front and back of the coin, but this well-known design is easily distinguishable among other Silver Dollars.

The Morgan Dollar is also valued for its high-quality strike. For many collectors, the coin provides a fun, yet challenging collecting experience because of the many varieties and overdates available. Many have survived in relatively high grades considering their age and their use as a common currency. APMEX offers high quality certified Morgan Dollars ranging from MS-62 up to the rare MS-68 from PCGS and NGC grading services. APMEX Certified Morgan Dollars are excellent options for expanding your collection of American numismatic history. APMEX makes it easy to buy Silver Dollars by offering competitive Silver prices on all Silver products.

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12.27.11 Weekly Recap

Gold prices have been affected by the ongoing European debt issues.  The precious metal is tied closely to the fate of both the dollar and the euro. Moves by the two currencies this week have been reflected in the price of Gold.  The recent trend for Gold has been to track the euro and move opposite the dollar.  Although there has been a correction in Gold prices over the past few months, most experts are unfazed and see the precious metal rising again in 2012. Jeffery Wright, a senior research analyst with Global Hunter Securities, said that Gold prices of $2,000 are likely if Washington lawmakers continue to be at odds on how to address fiscal problems in the U.S.  Wright also said, “Once we get back into those discussions, there will be further pressure on the U.S. dollar and a refocusing on Gold as a safe-haven asset.”

Leo Larkin, a metals and mining analyst with S&P Capital IQ, said, “Gold has been going up without interruption for 10 years.” Larkin said the current dip in prices is “totally normal” and stated that he expects this upward trend to continue in 2012. Over the past 10 years, Gold has experienced an average rise of 17% annually.  The demand for the metal continues to surge, and according to commodities strategist Sabine Schels, “The negative outlook for sovereign debt coupled with easy monetary conditions in the eurozone, the U.S. and Japan, meant Gold would retain its safe-haven status while still offering comparatively strong returns. Gold will also benefit from a continued need for central banks in emerging markets to diversify their holdings.”

The death of North Korean leader Kim Jong Il was at the forefront of the news.  Il’s death only adds to the list of uncertainties affecting the world economy; there is concern about the effects his passing will have on North Korea’s economy and its relationship with South Korea.  Stock markets slipped over comments made by European Central Bank (ECB) President Mario Draghi regarding the ECB not being able to step in to buy bonds based on the founding treaty of the eurozone. Other news causing concern was England’s refusal to participate in an increase of the IMF’s resources to help the debt crisis.  There are still plenty of hurdles and difficulties within the eurozone, including Finland’s resistance to how the European Stability Mechanism is run, which could cause issues as early as July 2012. Fitch Ratings stated that it is too late for a comprehensive solution to be reached in Europe’s debt crisis.

The business sentiment in Germany rose sharply in December, which went against expectations that such sentiment would decline. This was looked on as a good sign for the eurozone, as Germany is often considered the workhorse of the European economy. As the markets stabilized, investors wondered what would happen as events continued to unfold in North Korea. Regional tensions were on high alert, even as U.S. Secretary of State Hillary Clinton said the U.S. is ready to help the North Korean people create lasting peace and security on the Korean peninsula. Also, the U.S. House of Representatives voted on extending the payroll tax cut.  Although an agreement to extend the tax cut and unemployment benefits had previously passed in the Senate, congressional Republicans, unhappy that requested cuts to President Barack Obama’s health care law and changes to the unemployment insurance system were removed from the bill passed in the Senate, rejected the proposed two-month extension.

The European Central Bank (ECB) announced that its lending program would be giving eurozone banks a total of 489 billion euros to meet liquidity needs.  The announcement jump-started the markets, as the expectation was that those banks would use some of the loaned money to buy sovereign debt. However, Europe’s initial rush of excitement faded quickly after it was realized that would not be the case.  The eurozone news pulled all major indexes down, although by the end of the day Gold and Silver had climbed back near their Wednesday morning levels.  In the U.S., Republicans and Democrats reprised their roles in a drama similar to the debt ceiling issue earlier in the year, with both sides blaming each other for halting the extension of the payroll tax cut.  Also on Wednesday, the National Association of Realtors announced that existing home sales increased by 4% in November. However, those results were muddied after the association revised its calculations for 2010, saying the housing crash was, in fact, about 14% worse than previously thought.

Thursday began with both U.S. stock futures and the U.S. dollar rising in response to the release of the weekly jobless claims report. The report showed that 4,000 fewer people filed for unemployment benefits the week before. Third quarter Gross Domestic Product numbers for the U.S. reflected a revision downward of 0.2%.  The numbers also indicated that consumer spending had been weaker than originally reported. Fitch Ratings placed the U.S. on warning again  regarding its AAA credit rating, though it said a decision likely wouldn’t come until 2013. Also on Thursday, Republican and Democrat lawmakers in Congress continued their fight over the payroll tax cut extension.

The debt issues in Europe continued to hobble efforts for economic recovery, and there were talks of a ‘Quantitative Easing’-like effort within the European Union. Such a program, which would involve the European Central Bank (ECB) stepping up and buying debt, goes against the principle set forth for the ECB and is a touchy subject with ECB President Mario Draghi, who has indicated that he feels instilling trust in Europe should be the priority. Draghi said in an interview, “We won’t achieve that (trust) by destroying the credibility of the ECB.” The International Monetary Fund showed no signs of stepping in with any sort of financing plan for European debt, either. Former ECB board member Juergen Stark said, “Practically, I don’t see any countries other than eurozone states that want access to the money. It is an attempt to circumvent the ban on direct monetary financing in Europe.”  The domestic economic news on Friday was that U.S. manufactured goods rose quite a bit in November, based on aircraft demand. However, business spending decreased in an indication that investing might be starting to wane.  In other U.S. news, after a week of fighting between Republicans and Democrats, Congress finally passed a two-month extension of the payroll tax cut.

Each year around this time, we begin to see stock and Gold price predictions for the coming year. Last year, most of the predictions for stocks were bullish, and Gold predictions were more modest. But there was no way to predict the Arab Spring, the earthquake and tsunami that hit Japan, the downgrade of the U.S. credit rating, the continued lack of jobs or the severity of the European debt crisis. In the end, it has been a poor year for stocks and another robust year for Gold, despite the recent price decline. It makes one wonder what the unexpected (Black Swan) events might be in 2012. According to an article by Patti Domm, CNBC news editor, there are five geopolitical risks we need to watch for in 2012:

  • The conflict with Iran. Tensions already are escalating as Western countries seek to push sanctions on Iran for its nuclear weapons program.
  • North Korea. Who is this new 28-year-old leader? There is very little known about Kim Jong Un, who leads a secretive and closed country that possesses nuclear weapons.
  • Iraq’s civil war. The exit of U.S. forces leaves behind an unstable situation that creates even more uncertainty amid the world’s major oil supplies.
  • Deteriorating Pakistani-U.S. relationship. The U.S. relies on Pakistan to assist in the ongoing war on terrorism. However, the U.S. also needs India as an ally, which creates quite a balancing act.
  • Russian elections. There could be a shift of power in Russia, and this brings added uncertainty. Russia still carries economic clout and remains the world’s largest oil producer.

WEEKLY SPOT PRICES

Gold: Spot Gold prices opened this week at $1,596.30. The high was on Wednesday, Dec. 21st at $1643.70, while the low for the week occurred on Monday, Dec. 19th at $1,585.50. Gold ended the week up $13.40 at $1,609.70. This week, the most popular Gold bullion products were 2011 Gold American Eagles, 1 oz. Pamp Suisse Gold Bars, and 2011 1 oz. Gold Maple Leafs.

Silver: Spot Silver prices opened this week at $28.85. Silver reached a high of $30.21 on Wednesday, Dec. 21st, while this week’s low for Silver occurred on Tuesday, Dec. 20th at $28.70. Silver ended the week up $0.32 at $29.17. 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 $1,411.10 and ended the week up $21.10 at $1432.20. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium: Spot Palladium prices opened this week at $617.10 and ended the week up $43.40 at $6660.50. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

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Is Now the Time to Invest in Silver?

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Fluctuations in the price of Silver are allowing investors to buy Silver at rates not seen since almost a year ago. Could now be the time to invest or extend your position in Silver?

Today’s Opportunity in Silver
The fundamentals that drove the price of Silver to a cycle-high earlier this year have not changed. We continue to face risks to the U.S. economy, a global debt crisis, and European financial uncertainty. Yet, Silver is now providing a buying opportunity for investors.

According to the Silver Institute, the Silver demand from industry (utilized by technology and electronics, among others) will increase by 36% between now and 2015. The International Business Times reported that the “current annual production of Silver is estimated at 700 million ounces. But demand is outpacing limited supplies. The demand for Silver from emerging economies like China and India is likely to continue to fuel the market.”

Silver and Your Portfolio
Silver could continue to play an important role for both investors and high-tech industries over the long term. The current price pullback is providing an opportunity for investors who may have been waiting on the sidelines for a better time to extend their holdings. This could be the right combination for long-term investment growth.

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With 10 troy ounces of .999-fine Silver, the 10 oz. APMEX Silver bars are one of the most cost-effective ways to invest in Silver. A raised rim allows for easy storage without damaging the design.

1 oz. APMEX Silver Rounds— An affordable way to invest

The 1 oz. rounds are a convenient and affordable way to diversify your investment portfolio with Silver. Shipped securely in plastic sheets or tubes, these rounds feature a popular and patriotic American eagle design and are stamped with purity and weight guarantees.

Buy Silver Bars & Rounds by APMEX — Multiple sizes and designs

Bars and rounds of any size are an excellent way to invest in pure Silver at a low premium over spot. They come in multiple sizes and designs and are easily bought, sold, stored, stacked and counted. APMEX guarantees you will receive only .999-fine Silver bars and rounds!

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12 Days of Christmas: DAY 10 – Gettysburg America The Beautiful

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 Silver bullion For Only $1.99 Per Oz. Over Spot!

Celebrate a piece of American history with the 2011 5 oz. Gettysburg America the Beautiful coin, now just $1.99 per oz. over spot for any quantity. Graded MS-69 Prooflike First Strike by PCGS, these stunning .999-fine Silver coins commemorate the Gettysburg National Military Park in Pennsylvania. Order yours while supplies last, and enjoy safe and secure shipping from APMEX.

Affordable Pricing on a Nearly Perfect Coin

The U.S. Mint launched the America the Beautiful Program in 2010, and issues five new designs each year. Gettysburg was the first issue for 2011. APMEX is pleased to extend a special offer on a limited number of these coins that are graded MS-69 Prooflike First Strike by PCGS, the premier grading service. These coins:

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The front of the coin is an exact replica of the front of the Washington Quarter. The back depicts Soldiers National Monument, a statue constructed to honor the American soldiers laid to rest at Gettysburg.

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12.9.11 Weekly Recap

Gold this week was heavily influenced by the European debt crisis, with prices rising or falling based on the latest the news from Europe.  Tuesday morning saw gold reach its lowest point for the week, with the price dropping as low as $1,708.  The highest price for gold during the week came late Wednesday afternoon, when the precious metal rose to more than $1,744.  By week’s end, Gold was responding to the European news positively, rising along with the euro.  Oliver Pursche, co-portfolio manager of the GMG Defensive Beta Fund, said, “When you have so much retail and ETF interest (in Gold), you’re not going to trade on the fundamentals on the short term. (But I) would not be surprised to see higher Gold prices longer term.”

Monday started with the focus still on the debt crisis in Europe, with Gold prices dipping and U.S. stock futures rising amid optimism regarding a resolution to the eurozone debt crisis.  With a European Union summit planned for the end of the week, Rockwell Global Capital’s Peter Cardillo said, “The (stock) rally continues, but it’s all about Europe and any disappointing news out of Europe later in the week could mean an about-face for this market.”  French President Nicolas Sarkozy and German Chancellor Angela Merkel found themselves under fire to agree on a “master plan” regarding the budget for the eurozone. They announced their proposal for the “Stability and Growth Pact” treaty to assist with strengthening the eurozone financial policy to reinstate confidence in the shared currency.  Commerzbank, in response to news that the European Central Bank (ECB) was expected to cut interest rates, stated in a note, “This should lend support to the Gold price, since the opportunity costs of holding Gold will remain low.”  Also, the Institute for Supply Management (ISM) reported that the U.S. service sector performed at a slower pace than expected in November.  Standard & Poor’s (S&P) came out with very harsh wording in its credit rating review for the eurozone, warning fifteen countries (including France and Germany) about a possible credit downgrade.

On Tuesday, optimism that eurozone leaders would come up with a concrete plan to shore up the debt crisis continued to spread, spurred on by investor belief that Standard & Poor’s (S&P) downgrade warning to 15 European countries the day before would help that process along.  In a commentary written for Marketwatch, author Satyajit Das stated, “What happens in Europe will not stay in Europe.  The shock will be rapidly transmitted through trade, investment and the financial system to the rest of the world.  It may truncate the nascent U.S. economic recovery.”  There was fear that the European Financial Stability Facility also might face a downgrade of its respected credit rating if even one of the bailout fund’s six guarantors (Germany, France, the Netherlands, Finland, Austria, and Luxembourg) was downgraded from a rating of AAA.  U.S. Treasury Secretary Tim Geithner was in Germany Tuesday to attend the three-day eurozone summit aimed at finding a European economic resolution.  He indicated his support for the German-French initiatives pushing closer European financial cooperation, and urged policymakers to look to central banks to help provide protection from the growing debt crisis.

Wednesday saw many investors waiting on the results from Thursday’s European Central Bank meeting, in which the result is expected to be a lowering of interest rates.  The big card on the table for the meeting was the proposed new EU treaty that would include tougher budget rules.  Treasury Secretary Timothy Geithner headed to France to continue promoting the American agenda while meeting with French, Italian, and Spanish officials.  Geithner stated, “I have a lot of confidence in what the president of France and the minister are doing, working with Germany to build a stronger Europe.”  The U.S. senate appeared to put “too-big-to-fail” banks back on its radar, with Senator Sherrod Brown holding a hearing Wednesday regarding “new oversight authority to shield Main Street from Wall Street megabank risk.” Comments made by German officials and the new economic figures had diminished hopes that a resolution would come out of the EU summit planned for Friday.

News about the European Union drove major market movement during this past week. Precious metals prices and U.S. stocks were both down Thursday morning after the announcement from the European Central Bank (ECB) that it would be cutting its key lending rate from 1.25% to 1%, while also introducing further measures in an effort to ease lending for banks.  Investors appeared to be hoping for news that the ECB would aggressively begin to buy bonds.  However, ECB President Mario Draghi announced the oppositeEuropean Union leaders meeting in Brussels came to an agreement on new fiscal rules for stricter budget discipline in the eurozone.  However, EU leaders were unable to come to an agreement on how to shore up the EU’s future permanent rescue fund, and the looming question about whether any new agreement would require major changes to the EU treaty wasn’t even brought up.  French President Nicolas Sarkozy stated, “Never has the risk of Europe exploding been so big.” The German Chancellor Angela Merkel offered, “The euro has lost credibility, and this must be won back.  We will make clear that we will accept more binding rules.”  Not everyone was convinced.  Scotia Capital economist Alan Clarke said, “One step forward, two steps back.  The eurozone leaders might as well not bother.  Pack their bags, go home, enjoy the weekend, and do their Christmas shopping.”  In the U.S., weekly jobless claims fell by 23,000 to 381,000, a better number than the expected drop of 9,000.

By Friday, after overnight talks in Belgium, 23 European nations (including all 17 eurozone members) were planning on a new intergovernmental treaty for fiscal discipline, which would include caps on Gross Domestic Product deficits, consequences for deficits exceeding 3% of GDP, additional contributions to the International Monetary Fund, and other features.  However, not every EU member was on board for a revision of the treaty.  British Prime Minister David Cameron, after telling journalists present that Britain “would never join the euro,” argued for regulatory exemptions that would protect the United Kingdom’s financial services industry. He said that the ideas proposed by French President Sarkozy and German Chancellor Merkel were not something he could “in good conscience” take back to the UK and put to a vote in parliament.  In response, President Sarkozy said, “Our British friends made unacceptable demands.”  Also on Friday, Moody’s Investors Service downgraded three French banks based on the continued negative economic outlook in Europe, explaining, “The probability that the (banks) will face further funding pressures has risen in line with the worsening European debt crisis.”

WEEKLY SPOT PRICES

Gold: Spot Gold prices opened this week at $1,735.00. The high was on Thursday, Dec. 8th at $1,760.50, while the low for the week occurred on Friday, Dec. 9th at $1,704.90. Gold ended the week down $22.10 at $1,712.90. 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 $32.36. Silver reached a high of $33.09 on Monday, Dec. 5th, while this week’s low for Silver occurred on Thursday, Dec. 8th at $31.43. Silver ended the week down $0.08 at $32.28. 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 $1,533.60 and ended the week down $16.60 at $1,517.00. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Palladium: Spot Palladium prices opened this week at $643.80 and ended the week up $43.50 at $687.30. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

2011 Kilo Silver Aztec Calendar coin

Honor the rich heritage of Mexico and its people with the 2011 Kilo Silver Aztec Calendar coin, now $100 off the regular price. With a full 32.15 oz. of .999-fine Silver, these incredibly detailed coins were minted in limited quantities. APMEX ships them with a magnifying glass, mint-issued box and certificate of authenticity. Order yours today, while supplies last.

Harder to Find than Many Kilo Coins

The Sun Stone (also known as the Aztec Calendar) was unearthed in Mexico in 1790. The original Sun Stone measures 12 feet in diameter and weighs 24 tons. The Banco de Mexico minted only 1,500 of the 2011 Kilo Silver Aztec Calendar coins.

Given the coin’s large size, Banco de Mexico was able to recreate this historic artifact in stunning detail. The 2011 Kilo Silver Aztec Calendar coin:

  • Comes with a mint-issued box and certificate of authenticity with a unique serial number
  • Includes a magnifying glass so you can fully appreciate the coin’s beauty
  • Packaged in a beautiful, laser-etched wooden display box

The front of the coin features the Mexican national shield (an eagle on a cactus with a snake in its beak) surrounded by previous Mexican national shields used throughout history.

Order Silver online today at APMEX.com!

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