20 Saint Gaudens
Posted by Adam King on July 16, 2009
Inflation Holding Us Back…
July 16, 2009 – Gold spot prices are falling for the first time in six trading sessions as economic turbulence continues, yet many wise investors are still turning to $20 Saint Gaudens coins as their ultimate wealth preservation tool during this worsening financial crisis. The latest economic data that has been released in the United States shows that our Producer Price Index and Consumer Price Index have risen much higher than expected, proving that inflation is slowly but surely beginning to manifest in our economy. To make matters even worse, corporations nationwide continue facing trouble as unemployment approaches the dangerous level of 10%. According to several market analysts, our biggest problem at the moment is inflation after our excessive overprinting of dollars, and this could be the primary factor that may hold us back from a true economic recovery in the short-term. Unless the United States Government begins to fight inflation as of now, we could face a high inflationary period similar to what was seen in the late 1970’s when gold increased in value more than 800% in just two years. Fortunately, wise investors could take advantage of this financial crisis by purchasing coins like the $20 Saint Gaudens that have proven their wealth preservation potential several times in the past.
By 1 PM Eastern Standard Time, modern-day bullion products are losing a bit of value as the spot price of gold tumbles, yet pre-1933 certified rare coins like the $20 Saint Gaudens are holding on strong as they usually do during times of sudden market fluctuation. The current gold spot price sits at $937.30 per ounce, decreasing $2.20 or .23% for the trading day.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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