Market Recap 1/21/11

Chinese President Hu Jintao’s visit to Washington was the story of the week. Although expectations were not high as to any big policy announcements, it represents the continued efforts by both countries to improve relationships. Of course, the US wants China to allow the Yuan to appreciate relative to other global currencies, while China is comfortable with the status quo.

On Tuesday, all precious metal prices received a boost when higher than expected inflation data was reported from the UK. US debt concerns surfaced again when Neel Kashkari, former head of the $700 billion TARP program said, “our debt is starting to get away from us.” Global and domestic confidence in US Treasuries could fall dramatically if the Fed keeps printing money to buy bonds.

Precious metal prices are up for the third day in a row as a result of a weak dollar and increased demand out of Asia. Platinum hit a 30-month high and Palladium continues to go up as well. These two metals have important industrial applications and therefore they are rising on the improving economics.

After three days of moving up, profit takers moved in and precious metal prices retreated. There were no major news stories other than the daily cycles where traders move in and out. Investors with a long term view stepped in and bought on the dips. Platinum rebounded quickly especially on the announcement that China imported 40% more platinum in 2010 than they did in 2009.

Spot Gold prices opened this week at $1,362.90. The high during the week was on Wednesday, January 19th, at $1,378.90, while the low for the week occurred on Friday, January 21st, at $1,337.00. Gold ended the week down $19.50 at $1,343.40. This week, the most popular Gold bullion products were 2011 Gold American Eagles, 1 oz. Pamp Suisse Gold Bars, 2010 1/4 oz. Gold American Eagles and 2011 1 oz. Gold Maple Leafs.

Spot Silver prices opened this week at $28.51. Silver reached a high of $29.49 on Wednesday, January 19th, while this week’s low for Silver occurred on Friday, January 21st, at $27.08. Silver ended the week down $0.95 at $27.56. The most popular Silver products on this week were 2011 Silver American Eagles, 2011 Silver Maple Leafs, 1 oz. Silver Buffalo Rounds and 1 oz. Sunshine Silver Bars.

Spot Platinum prices opened this week at $1,816.00 and ended the week up $13.70 at $1,829.70. Popular Platinum products this week included, 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Spot Palladium prices opened this week at $798.90 and ended the week up $24.50 at $823.40. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week at

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the 2011 Gold and Silver Chinese Panda coins.

APMEX is excited to announce our new allotment of 2011 Chinese Pandas. The 2011 Panda coins are the latest installment in one of the world’s most popular series of coins. Like the Chinese Pandas before, the 2011 obverses show the Hall of Prayer for Good Harvest of the Temple of Heaven in Beijing. These Chinese Pandas continue their tradition and have a brand-new reverse design featuring a Panda and her cub in a field of bamboo. Being as no two years are alike, the Chinese Panda coins are highly collectible.

The 2011 Chinese Pandas are available in both gold and silver. The Silver Chinese Panda is available in a 1 oz. coin, while the Gold Chinese Panda is available in 1 oz., ½ oz., ¼ oz., 1/10 oz., and 1/20 oz. sizes. The Gold and Silver Chinese Pandas are admired for their value and striking beauty. Be one of the first to get these gems from the Far East!


3 thoughts on “Market Recap 1/21/11

  1. It looks like the market is presenting us with a nice entry point for precious metals. They have gone up a lot but I see no reason why they can’t keep going up. I started purchasing bullion in 2009 and it looks like every single piece I purchased has gone up. Hopefully I am not buying too close to a near term high.

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