U.S. consumer prices were essentially unchanged in February as higher car prices were offset by lower energy costs, leaving the possibility for the Federal Reserve to keep supporting the economy with record-low interest rates, according to the Wall Street Journal. Also, the number of workers filing new claims for unemployment benefits decreased last week for the third consecutive week. Meanwhile, “the U.S. current account deficit expanded in the fourth quarter to its highest level in a year, as rebounding economic action resulted in higher imports of oil and other goods,” according to the Dow Jones Newswire.
In other news, Beijing is facing demands by some U.S. lawmakers to be declared as a currency manipulator in a Treasury Department report due out next month, said the Associated Press. This potentially sets the stage for possible trade sanctions against the communist nation. Critics say China’s Yuan is undervalued by up to 40 percent, giving its exporters an unfair advantage and swelling its trade surplus. “A lot of problems can be properly solved so long as we can avoid politicization and emotionalization,” said He Ning, a Commerce Ministry official. Mixed economic reporting and forecasting continue to drive investors to seek financial asylum in precious metals.
This week, APMEX hit a 3-point shot with its Gold Eagle March Madness sale. The sale is the perfect opportunity to stock up on 1-ounce, 1/2-ounce, 1/4-ounce or 1/10-ounce Gold American Eagle coins, the only gold bullion coins whose weight, content and purity are guaranteed by the United States Government, at greatly-reduced premiums.
Spot gold prices opened this week at $1,101.70. The high during the week was on Wednesday, March 17th, at $1,133.90, while the low for the week occurred on Monday, March 15th, at $1,101.00. Gold ended the week up $6.50 at $1,108.20. This week, investors concentrated their interest in Gold American Eagles, Gold Buffalo Coins and Canadian Gold Maple Leafs.
Spot silver prices opened this week at $17.12. Silver reached a high of $17.55 on Wednesday, March 17th, while the low for silver occurred on Monday, March 15th, at $16.99. Silver ended the week down $0.11 at $17.01. Silver American Eagles, 1 oz. Silver Buffalo Rounds and 1 oz. APMEX .999 Fine Silver Rounds remained popular with silver investors this week.
Spot platinum prices opened this week at $1,609.00 and ended the week up $2.60 to $1,611.60. This week, Platinum American Eagles, Canadian Platinum Maple Leafs and 1 oz. Scotiabank Platinum Bars continued to be popular with investors.
Spot palladium prices opened this week at $465.10 and ended the week up $6.40 to $471.50. This week, the most popular palladium items included 1 oz. .999 Fine Pamp Suisse Palladium Bars and Random Year 1 oz. Palladium Canadian Maple Leafs.
Featured Bullion Product:
Each week, APMEX will feature a different bullion product for the benefit of our readers. This week’s featured product is the Silver Chinese Panda.
The unique, aesthetic nature of the Silver Chinese Panda coin makes it a particular favorite among collectors. Extensively detailed designs are the main attractions of these lovely coins. Unsurprisingly, Silver Pandas continue to distinguish themselves as one of the finest silver coins in the world.
Beginning with the first minting in 1983, all of the obverses of the Silver Chinese Panda coins depict an image of the Hall of Prayer for Good Harvest of the Temple of Heaven in Beijing — the famous example of Chinese architecture. The reverse designs depict the Giant Panda — China’s rare and well-known animal — as the primary motif.
Each Chinese Panda coin has a uniquely Asian style, with a reverse design that changes every year. These coins are treasured by collectors and investors for their lasting value and sleek designs.
Silver Chinese Panda coins belong in every investor’s collection!