Weekly Gold and Silver Market Recap for June 1, 2012

by Robert Davis. Email Robert.

U.S. Economic Data Disappoints

In a May survey, consumer confidence is at a five month low.  Only 13.6 percent of consumers say business conditions are good.  Pending home sales dropped in April, which was unexpected.  To top this off, only 69,000 new jobs were created in May, which pushed the unemployment rate to 8.2 percent.  “For those lucky enough to have a job, their spending power is sliding when accounting for inflation.  The markets will respond negatively to this report,” Todd Schoenberger at the BlackBay Group in New York said.  Stock prices slid in response this report, while Precious Metals were benefiting.  “The housing market will be affected by the weaker than expected jobs report,” said Doug Duncan, chief economist at Fannie Mae.  “The drop in pending home sales is clearly disappointing,” said Pierre Ellis, an economist at Decision Economics in New York.  “It remains to be seen whether this is the beginning of a real downturn.”

U.S. Treasury Yields Drop to Lowest Rates in History

Interest rates on 10 year Treasury bonds hit their lowest point ever this week as more investors fled risky assets, also driving stocks to continue their recent slump.  Interest rates on bonds fall when there is greater demand in the market, and this demand is typically driven by fear of risk. “If you look at the global marketplace, we are the supermarket of safety,” said William Larkin, a fixed income money manager for Cabot Money Management Inc.  “We’re talking about an elevated level of fear. This is mainly driven by growing uncertainty in Europe.  People are saying, ‘I can buy the Treasury and I know my money will be returned to me.’ ”

…And of Course, Europe Still Looks Terrible

Spain was hit with another credit downgrade.  As a result, borrowing costs in that country soared.  It now seems a matter of when, not if, a bailout will be necessary.  Reports also showed that the European Central Bank rejected Spain’s plans to recapitalize Bankia SA, its largest bank, which the Spanish government partially nationalized in response to the bank’s near collapse.  One headline was particularly interesting, with an analyst suggesting that Spain could exit the eurozone before Greece.  For Spain, the eurozone’s third largest economy, leaving the euro may not be that country’s choice but instead may be the European Union’s.  “They are too big to rescue, they have no political hang ups about rupturing their relations with the EU, they are already fed up with austerity, and there is a bigger Spanish-speaking world for them to grow into,” said Matthew Lynn of Strategy Economics.

2012 Silver Australian Kookaburra Dragon Privy

In 1990, the Perth Mint of Australia began minting an unusual Silver bullion coin: the Silver Kookaburra. These beautiful coins celebrate the very interesting bird native to Australia. And now a special issue has been minted featuring a dragon privy mark to honor 2012 as the Year of the Dragon!

Each 1 oz Australian Silver Kookaburra with Dragon Privy contains .999 fine Silver. The obverse features a portrait of Her Majesty Queen Elizabeth II and lists the face value of the coin, which originally was $5, but was lowered to $1 in 1992. The reverse of each coin displays the kookaburra, and this issue features a beautiful dragon to celebrate the Year of the Dragon in the Chinese lunar calendar. In addition to the privy, these Silver coins have a limited mintage of just 80,000, which makes them even more collectible!

People born in the Year of the Dragon are said to be healthy, energetic, excitable, short-tempered and stubborn. They are also honest, sensitive, brave, and inspire confidence and trust. Dragon people are the most eccentric of any in the Eastern zodiac. These Silver coins would make a great gift for the dragon person in your life, someone born in 1940, 1952, 1964, 1976, 1988, 2000 or 2012.

These beautiful, .999 fine Silver coins make a great personal collectible or a perfect gift. APMEX offers several options for purchasing: single coins, rolls of 20 coins or boxes of 500 coins, with each coin in a plastic capsule no matter the quantity. The Year of the Dragon only comes around once every 12 years, so these special coins will not be seen again for a long time. Get your unique 2012 Silver Australian Kookaburra Dragon Privy coins while you can!

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Limited Supply – 1/2 oz Gold Canadian Maple Leafs – Take Advantage at $20 Per Coin Over Spot

1/2 oz Gold Canadian Maple Leaf - Random YearBack By Popular Demand
1/2 oz Gold Canadian Maple Leafs (Random Year)
Just $20 Per Coin Over Spot!
Any Quantity – While Supplies Last!

Get incredible pricing from APMEX on 1/2 oz Gold Canadian Maple Leaf (Random Year) coins.* In the past, these coins have warranted a premium of up to $85 over spot, making this a rare buying opportunity. Add these beautiful coins to your portfolio at the low cost of spot price plus face value of $20 per coin. Buy as many as you want! But hurry, because at this price these coins will sell out fast.

Made of .9999 fine Gold, Canadian Maple Leafs have worldwide appeal among Gold collectors and investors. With fractional coins at this incredible price, you have the flexibility to invest as much as you like and get the best pricing no matter how large your order is. Order today, while supplies last!

INCREDIBLE PRICE – GET 1/2 OZ OF PURE GOLD FOR SPOT + FACE VALUE!

Canadian Maple Leaf coins are a staple among Gold investors, and are one of the most popular entry points into the Gold market. Because of current dynamics of Gold prices, APMEX is able to offer you this rare opportunity to purchase high quality bullion at the spot price plus face value. Canadian Maple Leaf coins are:

  • Broadly popular with worldwide appeal and easy to sell if desired
  • Approved for Individual Retirement Accounts to help you diversify your long term savings with Precious Metals
  • Guaranteed by the Royal Canadian Mint for size, weight and purity

The Royal Canadian Mint is known for the quality and beauty of its coins. The 1/2 oz Maple Leaf coins feature an elegant single maple leaf on the reverse, or back, and a profile of Queen Elizabeth II on the obverse, or front. When buying random years, you can expect to receive dates of our choice.

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Limited Quantity 1 oz. Silver Coin – The Beautiful Fiji Taku

2011 1 oz Silver $2 Fiji Taku .999 Fine

A Rare Sea Turtle — A Beautiful Coin
The 2011 1 oz Silver $2 Fiji Taku Coin
Depicting the Hawksbill Turtle
While Supplies Last!

The locals call it the Taku. If you want to see this rare and beautiful turtle, you can visit the South Pacific island nation of Fiji. But you can own this Prooflike 2011 1 oz Silver $2 Fiji Taku coin if you act now. Only a limited number of these beautiful collectible .999-fine Silver coins are available. Order yours today, while supplies last!

 

NOT YOUR ORDINARY BULLION COIN!

 

The 2011 1 oz Silver $2 Fiji Taku was struck by the New Zealand Mint, known for quality and design excellence. The obverse, or front, of this coin features the Raphael Maklouf profile of Her Majesty Queen Elizabeth II. The reverse, or back, features a stylized Taku swimming over a rippled field representing the bottom of the sea. It’s minted for lasting beauty and value with:

 

  • 1 oz of .999-fine Silver: This bullion product is ideal for investing and easy to sell when needed
  • Authorization from Fiji: As official bullion issued by the government of Fiji, it has added recognition and liquidity
  • Prooflike finish: Adds to the beauty of each coin
  • $2 face value: This coin is legal tender of the Commonwealth of Fiji.

 

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