Weekly Gold & Silver Market Recap for April 20, 2012

Golden Haven:

Precious Metals prices are relatively flat today, as the equity markets in the U.S.A. climbed 100 points during morning trading hours. Better than expected business sentiment out of Germany boosted the euro and pushed Gold prices slightly higher. In general, Gold prices are caught between the unlikelihood of QE3 versus its safe haven appeal in the face of a ramped up European debt crisis. The International Monetary Fund and the World Bank are meeting this weekend to discuss the euro crisis. News from that meeting should affect Gold prices at market open, 6 p.m. (EDT) Sunday.  While Gold serves as a safe-haven investment for sectors ranging from individual investors to central banks, it may also be helping in an area that is a key to economic recovery: jobs. The Colorado School of Mines has a 94 percent employability rate for its 2011 graduates. Starting salaries are in the mid-$60,000 range, which is significantly higher than the average starting pay for other college graduates. In the 1990s, Gold averaged $350 per ounce; now, the price is more than $1,600, and with that comes an overflow of opportunity for the next generation’s precious metals work force.  Analyst’s reference to Gold as a safe-haven investment is not always referring simply to economic turmoil. Geopolitical tensions can also cause a boost in Gold’s appeal, such as the current situation with North Korea. After that country’s rocket failure last week, the U.S. is looking at “all options” to stop North Korea from conducting a third nuclear test. The U.S. already has halted food aid for the country after an agreement was broken by the aforementioned rocket launch. Continue reading

Market Recap 11/5/10

The Dow Jones Industrial Average ended the day up just over 9 points, as the market failed to continue its strong momentum this week. Friday’s activity was not reflective of the impressive showing throughout the week based on the Federal Reserve Bank’s plan to boost the economy with $600 billion worth of Government Bond purchases.  But even a stronger than expected jobs report, adding 151,000 jobs in October, couldn’t rally the Market higher on Friday.

The Federal Reserve’s plan to purchase Government Bonds drove the 30-year bond higher but also drove the two-year and five-year notes to record lows. The Federal Open Market Committee said that the Fed will expand purchases at the rate of about $75 Billion a month through June 2011.

Precious metal prices continued to climb higher and higher again this week. Gold and Silver both neared important milestones. Gold hit an historic high of $1,398.90 on Friday, while Silver reached a 30-year high of $26.94. Gold had hit 17 new highs over the last five weeks based, at first, on speculation about the Fed’s actions and then on the actual announcement. What will be the newest predictions on the prices of these precious metals now, given their new highs? 

Gold:
Spot Gold prices opened this week at $1,351.10. The high during the week was on Friday, November  5th, at $1,398.90, while the low for the week occurred on Wednesday, November 3rd, at $1,327.10. Gold ended the week up $43.80 at $1,394.90. This week, the most 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 $24.61. Silver reached a high of $26.94 on Friday, November 5th, while this week’s low for Silver occurred on Wednesday, November 3rd, at $23.94. Silver ended the week up $2.18 at $26.79. The most popular Silver products on APMEX.com 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 $1,711.30 and ended the week up $57.30 at $1,768.60. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/2 oz. Platinum American Eagles were popular purchases this week.

Palladium:
Spot Palladium prices opened this week at $649.00 and ended the week up $39.90 at $688.90. 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs continue to keep the interest of 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 section on Pamp Suisse Gold Products.

PAMP is a French acronym for “Artistic Precious Metal Products.” PAMP is one of the world’s leading independent refiners of precious metal products. In 1977, PAMP established its refinery in the Castel Saint Pietro in Switzerland. Their die-struck bars are made to exacting standards and have been considered “Good Delivery” bars by the London Bullion Market Association since 1987. All of PAMP’s bars are struck in .9999 quality and fineness.

The PAMP Gold bars are often struck with the very attractive likeness of the ancient Roman goddess “Fortuna,” who was believed to rule good luck. The bars are often available in sizes ranging from a tiny 1 Gram up to a large 10 Troy Ounces.

Market Recap 3/19/10

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.

Gold:
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.

Silver:
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.

Platinum:
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.

Palladium:
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!

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Market Recap 3/12/10

A survey by the National Association of Business Economists this week showed that two-thirds of respondents believed that the increase in interest rates is both likely and appropriate over the next several months.  Additionally, those respondents expect the Fed to raise it’s rate by one-quarter to one-half of one percent within six months. Early in the week, the stock market reacted to news that American International Group’s (AIG) is selling its American Life Insurance Company to MetLife (MET) for $15.5 billion according to MSN Money. “As of Dec. 31, the company still owed the Treasury and the Federal Reserve Bank of New York nearly $130 billion. AIG’s bailout package was originally worth up to $182.5 billion.”

Tuesday, March 9, 2010, marked the one-year anniversary of the stock market’s twelve-year low, following the financial crisis. First-time jobless claims fell by 6,000 last week.  However, continuing claims (measure of Americans who have received unemployment benefits for one week or more), rose by 37,000 to 4.56 million. Following this news, the Senate approved a $138 billion measure to extend unemployment benefits. Reducing unemployment remains the dominant factor in efforts to firm up an economic rebound.  The U.S. Dollar was pressured late in the week when the Euro rose to a one-month comparative high.  Continued pressure on the U.S. Dollar and threats of increased interest rates and inflation continue to be the driving forces for the precious metals market.

Gold:
Spot gold prices opened this week at $1,136.00. The high during the week was on Monday, March 8th, at $1,138.00, while the low for the week occurred on Thursday, March 11th, at $1,100.50. Gold ended the week down $33.50 at $1,102.50. This week investors concentrated purchases on Gold American Eagles, Canadian Gold Maple Leafs, and 1 oz. .9999 Pamp Suisse Gold Bars.

Silver:
Spot silver prices opened this week at $17.39. Silver reached a high of $17.66 on Wednesday, March 10th, while the low for silver occurred on Thursday, March 11th, at $16.83. Following gold, silver ended the week down $0.29 at $17.10. This week, the most popular silver items included 1 oz. APMEX .999 Fine Silver Rounds, Silver American Eagles, and 1 oz. Silver Buffalo Rounds.

Platinum:
Spot platinum prices opened this week at $1,579.90 and ended the week up $33.60 at $1,613.50. 1 oz. Pamp Suisse Platinum Bars, Platinum American Eagles, and 1 gram Credit Suisse Platinum Bars remain popular with platinum investors.

Palladium:
Spot palladium prices opened this week at $476.00 and ended the week down $9.90 at $466.10. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars and 1 oz. Random Year Canadian Maple Leafs.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week’s featured product is the .99999 pure Gold Canadian Maple Leaf coin from the Royal Canadian Mint.

The Canadian Gold Maple Leaf bullion coin was first released in 1979 as a one-ounce investment coin to compete with the South African Krugerrand, and was the first coin to be struck of pure .999 gold.  In 1982, the gold purity was elevated to .9999, setting a new standard for gold bullion coins.  The Royal Canadian Mint pursued even higher quality and craftsmanship by introducing the world to the special, limited edition .99999 pure Gold Canadian Maple Leaf bullion coin – the purest gold coin ever minted.

In 2007 the .99999 pure one-ounce Gold Maple Leaf bullion coin joined the family of Gold Maple Leaf coins which are internationally known for their purity and quality.   The new “five-9″ Maple Leaf coin design had a unique three maple leaf design in 2007, a two maple leaf design in 2008, and a lone maple leaf design in 2009.  This three-year series of coins represents the highest achievement in gold purity in the bullion market and has garnered very positive reactions from investors and collectors around the world.  These special edition coins are produced in extremely limited mintages, potentially increasing their value and appeal.

APMEX recently secured a very limited supply of these unique .99999 pure Gold Maple Leaf bullion coins.  If you are interested in adding the world’s purest gold coins to your portfolio, simply follow the link to our .99999 pure Gold Maple Leaf selection.  We don’t expect our inventory of these highly sought after coins to last long, so ACT NOW!

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Market Recap 2/5/10

The U. S. economy has continued to shed jobs, which has cast doubts over the labor market’s strength, according to the Wall Street Journal. United States employers cut 20,000 jobs in January, while December’s number of job losses was revised from 85,000 to a drop of 150,000! The jobless rate, calculated using a household survey, fell to 9.7% last month from an unrevised 10% in December.

MSN Money stated Thursday that stocks plunged following the report that showed an unexpected rise in initial jobless claims. This caused the Dow Jones Industrial Index to drop below the 10,000 point mark for a short time. The precious metals market dipped as well, causing APMEX customers to take advantage of low spot prices as they scrambled to add to their gold, silver, platinum and palladium positions. Many customers may have viewed this retrenchment in prices as a short-term buying opportunity as they aggressively purchased all types of precious metal products.

The “I Heart APMEX” Video Contest kicked off this week and brought in dozens of video entries from the U.S. and Canada. APMEX fans rushed to get their entries in, some coming in within hours of the contest’s launch. Entrants are eligible for a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. Check out the contest rules and submit your video today! You have until 11:59PM (CST) on Valentine’s Day (February 14th) to submit your entry.

Gold:
Spot gold prices opened this week at $1,081.10. The high during the week was on Wednesday, February 3rd, at $1,125.80, while the low for the week was $1,042.50 and it occurred on Friday, February 5th. Gold ended the week down $13.30 at $1,067.80. This week, the most popular gold items included Gold American Eagles, 1 oz. .9999 APMEX Gold Bars and Gold Canadian Maple Leafs.

Silver:
Spot silver prices opened this week at $16.17. Silver reached a high of $16.95 on Wednesday, February 3rd, while the low for silver occurred on Friday, February 5th, at $14.62. Silver ended the week down $0.97 at $15.20. 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2010 Silver Canadian Maple Leafs were some of the most popular silver items sold by http://www.apmex.com/.

Platinum:
Spot platinum prices opened this week at $1,507.50 and ended the week down $27.50 at $1,480.00. Some of the most highly sought platinum products this week included 1 oz. Pamp Suisse .999 Fine Platinum Bars, Platinum American Eagles and 1 oz. Scotia Bank .999 Fine Platinum Bars.

Palladium:
Spot palladium prices opened this week at $418.00 and ended the week down $16.70 at $401.30. This week, 10 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were 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 look at the Silver Austrian Philharmonic coins.

First minted by the 800-year-old Austrian Mint in 2008, the silver Austrian Philharmonic coin is the first silver bullion coin denominated in Euros, the legal tender of the European Union.

Elegant is the perfect word to describe this lovely and unusual silver bullion coin. These exquisite coins were created as a tribute to the world-renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.

Almost identical to the popular gold Austrian Philharmonic coins, a harmonious design of musical instruments represents the world famous orchestra on the reverse of this silver coin. The obverse depicts the Great Organ of the Golden Hall in Vienna’s concert hall.

APMEX offers silver Austrian Philharmonic coins dated during the current year and in prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.

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