October 7, 2009
Posted by Adam King on October 07, 2009
October 7, 2009 – Certified gold prices rose on Wednesday morning, after a large number of bullion investors elevated the gold spot price yesterday. Some of the 22-karat US gold coins that have been certified and graded by the Numismatic Guaranty Corporation are up this morning after laying flat during the first two days of the week. The MS61 Lady Liberty coin is up 1.1% this morning, and the MS63 Saint Gaudens has made a 2.4% gain today. Certified, pre-1933, US silver coins also made some headway this morning, as the MS63 and MS64 Peace Dollar registered gains of 0.8% and 1.3%, respectively. Certified coins have been somewhat inactive over the last two weeks, as our dollar was able to stop its slide against other major currencies.
This week, our nation’s currency suffered a major blow when an independent UK reporter published an article about secret international conferences that intended to eradicate the US dollar as the price basis for trading commodities globally. Several European and Middle Eastern nations apparently want to replace our greenback with the euro, the yen, and even gold. World leaders want stability within the global financial markets, which is difficult to achieve while using an unreliable currency as a price base, especially when that currency is tied to a weak economy. The world economy appears to be improving slightly, but our nation is lagging far behind in terms of economic health. The international community apparently views the US dollar as a lame duck already, because a stronger dollar would not spur such an outcry for commodity pricing revisions. During the next couple of months, investors should keep a close eye on the dollar index. Our currency could strengthen, thereby lowering the price of commodities for US investors. However, many fear that our economic recovery may be a decade or more away. If this is true, certified gold and silver coins could continue to outperform some of our traditional markets by a wide margin, as they have done over the last 18 months.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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