Gold, Gold price, buy gold, gold banner, gold prices

Gold closed at a new record high Monday; it surged in the afternoon after a fairly volatile day. Platinum also hit a new record high just slightly higher than its yellow cousin.  Gold later dropped dramatically later in the week; it held steady at a price similar to a few weeks ago, before its short parabolic rise.

Early in the week there were growing rumblings of a third round of quantitative easing by the Federal Reserve.  “The market’s sending a signal to Bernanke saying, ‘We want QE3 and we want it this week, or we’re going to hammer you and the market will get absolutely killed,’ ” said Keith Springer, President of Springer Financial Advisory in Sacramento, Calif.  The markets were up mainly on speculation that Federal Reserve Chairman Ben Bernanke could signal that he is ready to put forth a third round of quantitative easing.

Europe, while not the leading headline this week, continues to be a serious concern for economists.  Former Fed Chairman Alan Greenspan said today, “The euro is breaking down and the process of its breaking down is creating very considerable difficulties in the European banking system.”  Deterioration of the euro could lead to even more slowing of the U.S. economy.  While appearing on the Aug. 7th broadcast of “Meet the Press,” Greenspan commented that the chance of the U.S. experiencing a double-dip depression depended on Europe and not the United States.

Suze Ormon, a popular personal finance television personality, appeared on NBC’s today show.  She discussed the merits of individuals allocating “5-10% of their portfolio” to gold.  “Gold is like a universal currency. It is good everywhere. When people are afraid, they think of inflation, all these things are going to happen. They invest in something they think is solid, secure- it’s there …When you see [Gold]  going up, people are afraid.”

Late in the week, there was a growing feeling that the Federal Reserve may let down those stock investors who believed there would be a commitment to step up stimulus.  Some investors feel there should be further action taken to help buoy the economy taken by Ben Bernanke.  However, a number of investors predicted disappointment was on the horizon.  According to Rob Dugger, managing partner at Hanover Investment Group LLC and a regular participant at the Jackson Hole conference, “The stock market is going to be disappointed Friday morning…It’s not going to get that kind of life-buoy thrown out over the water so that it can grab hold and swim safely to shore.”

Sure enough, Bernanke did not indicate any more quantitative easing in the near-term.  What this will do to the markets remains to be seen.

Weekly Spot Prices

Spot Gold prices opened this week at $1,854.40. The all-time record high was on Tuesday, Aug. 23th at $1,917.90, while the low for the week occurred on Thursday, Aug. 25th at $1,705.40. Gold ended the week down $20.70 at $1,833.70. 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.

Spot Silver prices opened this week at $42.46. Silver reached a high of $44.30 on Tuesday, Aug. 23rd, while this week’s low for Silver occurred on Thursday, Aug. 25th at $38.81. Silver ended the week down $0.61 at $41.85. 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.

Spot Platinum prices opened this week at $1,873.10 and ended the week down $36.90 at $1,836.20. Popular Platinum products this week included, 1 oz. Platinum Bars, 1/10 oz. Platinum American Eagles, and 1 oz. Platinum American Eagles.

Spot Palladium prices opened this week at $750.20 and ended the week up $10.90 at $761.10. Palladium investors preferred 1 oz. Pamp Suisse Palladium Bars and Palladium Canadian Maple Leafs this week.


Silver African Elephant Coins

 Silver, African coin, silver prices, buy silver, buy gold, gold, gold prices

The Silver Elephant Coin is one of the most fascinating coins in the African Wildlife Coin Series commemorating the characteristic fauna of Africa. Minted by the Das Bayerische Hauptmünzamt Mint in Munich, Germany, the one-ounce Silver Elephant coins were first issued in 2004. With a denomination of 100 shillings, the German-manufactured Silver Elephant Coin has begun to attract attention from coin collectors all over the world.

One of the most interesting aspects of the Silver Elephant Coin is the location of the coin’s production: the Das Bayerische Hauptmünzamt Mint (the Bavarian State Mint.) Over 800 years old, the Bavarian State Mint is the oldest company in Munich, Germany. One of the five German State Mints, the Bavarian State Mint has produced coins since 1158.

Celebrating the beauty of the animal kingdom, the striking Silver Elephant Coin portrays one of the largest mammals found on the African plains. The reverse design which changes annually features an illustration of a majestic elephant in its natural habitat. The coin obverse depicts two leopards supporting a shield and five-pointed star.  Beneath the leopards appears a ribbon draped over two crossed lances and two crossed palm fronds.

The alluring African Wildlife motif of the Silver Elephant Coin makes this Silver treasure a beautiful addition to any coin collection. APMEX makes it easy to buy Silver by offering competitive Silver prices on all Silver coins.

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