Market Recap 5/13/11

Precious metals had another topsy-turvy week, with gains and losses every day this week following last week’s sell offs. The U.S. Dollar was down Monday after a 3% rally last week with rumors that Greece might leave the European Union. These factors contributed to the lower metal prices last week; however, David Morgan, founder of Silver-investor.com, is still bullish for the metals. “The fundamental fact remains that you cannot print wealth. As long as Federal Reserve Chairman Ben Bernanke and other central bankers in the world try to print wealth you’re going to have more and more upside for the metals,” says Morgan.

Paul Mladjenovic, author of “Precious Metals Investing for Dummies,” said Gold looks “very strong” and any pullback will be minor as the market expects some dollar strength and some euro weakness. In fact, the typical reasons for precious metals to be a safe haven for investors – inflation fears, a weak dollar, and geopolitical fears are still prevalent in the marketplace.

Stocks traded lower Friday primarily driven by concerns over inflation and a strengthening dollar. “Core inflation is beginning to accelerate. Bernanke may be on the wrong side of this while some of the regional Fed presidents may be closer to the mark,” said Michael Strauss chief economist and chief investment strategist at Commonfund.

Charles de Vaulux, mutual fund manager, suggests that you should own Gold bullion as a part of your diverse portfolio of assets. “We control risk by owning Gold,” de Vaulx said. “As long as the policymakers are being irresponsible, it’s good to own some Gold, especially if the dollar keeps falling.” U.S. bonds, long thought of as a rock-solid investment, have come under increased scrutiny lately with the potential for high inflation and the debt ceiling looming, raising the possibility of a default on U.S. bonds. De Vaux is currently shorting U.S. government debt.

Gold:
Spot Gold prices opened this week at $1,500.70. The high during the week was on Wednesday, May 11th, at $1,526.80, while the low for the week occurred on Thursday, May 12th, at $1,477.60. Gold ended the week down $1.00 at $1,499.70. 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 $35.85. Silver reached a high of $39.47 on Wednesday, May 11th, while this week’s low for Silver occurred on Thursday, May 12th, at $32.30. Silver ended the week down $0.26 at $35.59. 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 $1,791.60 and ended the week down $23.10 at $1,768.50. 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 $717.20 and ended the week down $5.30 at $711.90. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at APMEX.com.

Featured Bullion Product:
Beginning on January 3, 2011, the 2011 Gold American Eagle Coins became available to each of the United States Mint’s authorized purchasers. An official Gold bullion coin of the United States, the Gold American Eagle Coin has become one of the most popular coins on the world market. Since its release by the United States Mint in 1986, the Gold Eagle has featured the same basic design. Displaying a design created by Augustus Saint Gaudens, the obverse of the Gold American Eagle depicts the figure of Lady Liberty, who holds a torch in her right hand and an olive branch in her left hand. In the background is a rendition of the Capitol building in Washington, D.C. The reverse of the Gold Eagle illustrates a nest of American Bald Eagles, a symbol of American nationalism and pride.

Available in 1 oz., 1/2 oz., 1/4 oz., and 1/10 oz. denominations, the 2011 Gold American Eagle appeals to both collectors and investors alike. In addition to its beautiful design, the Gold Eagle is also a Gold gem for its value. Containing 91.67% pure Gold, the 22-karat Gold American Eagle Coins have a market value that usually equals the market value of their Gold content. Moreover, the 2011 Gold American Eagles are eligible for precious metals IRA accounts and can potentially enhance any coin collection or investment portfolio.

Having gained international popularity since its debut, the Gold American Eagle is a coin that will most likely continue to attract attention from coin collectors all over the world.

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Market Recap 5/6/11

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

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

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

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

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

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

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

Gold:
Spot Gold prices opened this week at $1,567.30. The high during the week was on Monday, May 2nd, at $1,577.40, while the low for the week occurred on Friday, May 6th, at $1,471.10. Gold ended the week down $66.60 at $1,500.70. This week, the most popular Gold bullion products were 2011 Gold American Eagles, 1 oz. Pamp Suisse Gold Bars, and 2011 1 oz. Gold Maple Leafs.

Silver:
Spot Silver prices opened this week at $48.04. Silver reached a high of $48.19 on Monday, May 2nd, while this week’s low for Silver occurred on Friday, May 6th, at $33.04. Silver ended the week down $12.19 at $35.85. The most popular Silver products on APMEX.com this week were 2011 Silver American Eagles, 2011 Silver Maple Leafs, 1 oz. Silver Buffalo Rounds and 10 oz. APMEX Silver Bars.

Platinum:
Spot Platinum prices opened this week at $1,879.00 and ended the week down $87.40 at $1,791.60. Popular Platinum products this week included 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

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

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

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

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

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Market Recap 2/18/11

This week began with the budget battle. President Obama came out with his $3.7 trillion dollar budget. He pledged to cut $1.1 trillion in spending over the next ten years. Isn’t it odd how politicians propose big spending cuts long after they are out of office, when they no longer have to actually implement them? The budget squabbling between the two parties continues, as they battle over how to reduce spending. Of course, they both focus on 12% of total spending and avoid issues like social security, Medicare, Medicaid and other entitlement programs that make up 88% of the total spending.

Precious metal prices drifted up during the week largely on renewed fears about inflation. In the US, Representative Paul Ryan called on the Fed to take pre-emptive measures now to avoid inflation in the future. On Wednesday, the Producer Price Index came out at 9.6% annualized. The Core Producer Price Index was up an alarming 6% annualized. On Thursday, the CPI, Consumer Price Index came out and as expected it continues to go up. These both spell inflation down the road, if the trend is not reversed.

The Middle East remained in the news all week as violent protests spread from country to country. Three people were reported killed in Bahrain and clashes spread to Libya, Yemen, Iran and Iraq as well. Iranian warships were reported to be crossing the Suez Canal heading for the Mediterranean Sea. As you might imagine, this does not sit well with Israel.

Gold, platinum and palladium all showed good increases for the week, but silver was the shining star. It could very well finish the week up over 7%. Silver is now past its 30-year high. Depending on which analyst you read, silver is either set to continue to rise rapidly or drops like a rock. We do not pretend to know. But we can say this, the silver price to gold price ratio is in the low 40’s and it is usually in the high 50’s. Either silver should go down or gold should go up. Of course, silver could continue to go up and gold goes up faster, closing this gap.

Gold:
Spot Gold prices opened this week at $1,357.20. The high during the week was on Friday, February 18th, at $1,392.60, while the low for the week occurred on Monday, February 14th, at $1,354.40. Gold ended the week up $33.70 at $1,390.90. 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 $29.93. Silver reached a high of $32.92 on Friday, February 18th, while this week’s low for Silver occurred on Monday, February 14th, at $29.79. Silver ended the week up $2.82 at $32.75. 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 $1,804.00 and ended the week up $36.40 at $1,840.40. 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 $815.70 and ended the week up $38.90 at $854.60. 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 Gold American Eagle bullion coins.

Beginning on January 3, 2011, the 2011 Gold American Eagle Coins became available to the United States Mint’s authorized purchasers. An official gold bullion coin of the United States, the Gold Eagle Coin has become one of the most popular coins on the world market. Since its release by the United States Mint in 1986, the Gold Eagle has featured the same basic design. Displaying a design created by Augustus Saint Gaudens, the obverse of the Gold American Eagle depicts the figure of Lady Liberty, who holds a torch in her right hand and an olive branch in her left hand. In the background is a rendition of the Capitol building in Washington, D.C. The reverse of the Gold Eagle illustrates a nest of American eagles. A symbol of American nationalism and pride, the eagle is pictured carrying an olive branch and hovering over the nest.

Available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations, the 2011 Gold American Eagle appeals to both collectors and investors alike. In addition to its beautiful design, the Gold Eagle is also a gold gem for its value. Containing 91.67% pure gold, the 22-karat Gold American Eagle Coins have a market value that usually equals the market value of their gold content. Moreover, the 2011 Gold American Eagles are eligible for precious metals IRA accounts and can potentially enhance any coin collection or investment portfolio. Having gained international popularity since its debut, the Gold American Eagle is a coin that will most likely continue to attract attention from coin collectors all over the world.

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Market Recap 9/3/10

The Dow Jones Industrial Average had a relatively quiet day as traders prepared for the long Labor Day weekend. The U.S. Markets will be closed on Monday due to the holiday. Mixed results came from the August U.S. nonfarm jobs numbers as reported by the Labor Department. While 54,000 jobs were lost, that was better news than had been expected, so the stock market took that as a positive event. But, to confuse matters, the U.S. Unemployment rate rose 0.1 to 9.6% for August. The U.S. economy has lost jobs over the last three months, but August’s losses were less than had been predicted.

The “less than expected” job losses had a negative impact on gold, with the metal trading slightly lower. But its “cheaper cousin,” silver, was up significantly. Silver was close to a two-year high today and it was buoyed by its “safe-haven and industrial appeals” as reported by MarketWatch.

However, the picture for gold’s longer-term prospects seems very encouraging. According to Nicholas Larkin, writing for Bloomberg in London, “Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most-accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.

Gold:
Spot gold prices opened this week at $1,238.50. The high during the week was on Wednesday, September 1st, at $1,256.60, while the low for the week occurred on Tuesday, August 31st, at $1,233.50. Gold ended the week up $8.70 at $1,247.20. This week, 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 $19.14. Silver reached a high of $19.98 on Friday, September 3rd, while this week’s low for silver occurred on Tuesday, August 31st, at $18.86. Silver ended the week up $0.73 at $19.87. Popular silver products 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 $1,537.90 and ended the week up $16.60 at $1,554.50. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular again this week with investors.

Palladium:
Spot palladium prices opened this week at $506.10 and ended the week up $27.10 at $533.20. 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 Palladium Canadian Maple Leaf coins.

The Palladium Maple Leaf is the first palladium product introduced by the Royal Canadian Mint. While palladium bullion coins are not new to the market, the $50 Canadian Palladium Maple Leaf is the world’s first regularly issued palladium bullion coin.

Struck .9995 fine,  each coin bears the familiar standard Maple Leaf reverse design, giving this lustrous coin both investor and numismatic value. These Maple Leaf coins are only struck in a One Troy Ounce size. During the testing process for the Palladium coin, coins were tested on two different Palladium blanks. These blanks had been identified as Lot “A” and Lot “B”. From these blanks, 290 test coins were struck. They were struck with a mintmark to attest to their authenticity. All of the test coins struck from Lot A were identified with an “A” mintmark, and all test coins struck from Lot B were given a “B” mintmark. These coins were available for purchase through a draw held by the Royal Canadian Mint.

With today’s attractive spot price, it’s time to consider adding some Palladium Canadian Maple Leaf coins to your investment holdings.

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Market Recap 8/6/10

At the risk of sounding like a broken record, the U.S. Stock Market continued its roller coaster ride this week. The U.S. Dollar fell to a three-month low against a basket of currencies according to Reuters. The Wall Street Journal reported on Tuesday the Fed may consider pumping more money into the system by purchasing new mortgage or Treasury debt, which may be further confirmation that the recovery is stalling out once again.

Reuters reported that China, the world’s top producer and number two consumer of gold, moved to make trading the yellow metal easier this week. China’s Central Bank stated it will allow its banks to import and export more gold as part of a program to push forward the development of the country’s market in the precious metal. In response, UBS analyst Edel Tully said, “This is largely positive news for gold as it looks like an effort to further liberalize the gold market and integrate it into China’s financial framework.”

The Houston Chronicle recently reported that the University of Texas Investment Management Company (UTIMCO) invested $500 million in gold. Although this sum only accounts for a reported 3% of UTIMCO’s portfolio, the move has caught the attention of savvy investors across the nation. Actions such as these continue to point out that the financial crisis and unstable economy can highlight the appeal of gold and could push prices to new highs in a very short time.

Gold again reached the $1,200.00 mark late in the week, as government data showed a larger-than-expected loss of 131,000 jobs in July, which is more than twice the number expected by economists. Weak job reports combined with recent fears of a stalling economic recovery lend appeal to precious metals as an alternative investment to hedge against inflation.

Gold:
Spot gold prices opened this week at $1,181.50. The high during the week was on Friday, August 6th, at $1,213.30, while the low for the week occurred on Monday, August 2nd, at $1,176.70. Gold ended the week up $24.50 at $1,206.00. This week 2010 1 oz. Gold American Eagles, 1 oz. Gold Maple Leafs and 1 gram Sunshine Minting Gold Bars were popular gold products.

Silver:
Spot silver prices opened this week at $18.03. Silver reached a high of $18.70 on Wednesday, August 4th, while this week’s low for silver occurred on Monday, August 2nd, at $17.98. Silver ended the week up $0.46 at $18.49. The most popular silver products 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 $1,573.80 and ended the week up $1.20 at $1,575.00. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular this week.

Palladium:
Spot palladium prices opened this week at $503.00 and ended the week down $12.40 at $490.60. 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 British Gold Sovereign coins.

First minted in 1489 for King Henry VII of England, the Gold Sovereign has become a symbol of the strength and wealth of the British Empire the world over. Production of these classic gold bullion coins continues today. With occasional exceptions, the design of the Gold Sovereign has consistently been the classic St. George Slaying the Dragon sculpted by Benedetto Pistrucci. This gold coin has been the world standard for the consistency and purity of its gold and for the accuracy of its weight for hundreds of years. Each Sovereign contains .2354 ounces of pure gold while the smaller half sovereign contains .1177 ounces of pure gold.

Because of the size of the former British Empire, Gold Sovereign coins have been struck in Great Britain, Canada, Australia, South Africa, India and the Isle of Man. Other countries have struck gold to a standard size and weight that matches this handsome gold coin. In many ways, the Gold Sovereign set the standard for gold world coinage.

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Market Recap 6/11/10

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

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

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

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

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

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

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

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

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

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

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

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Market Recap 5/21/10

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

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

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

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

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

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

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

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

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

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

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

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

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