Posted by Adam King on April 06, 2009
April 6, 2009 – The spot price of gold is falling this week, which in turn has lowered the value of the most popular investment-grade certified metals such as the $20 Saint-Gaudens coins, yet many market analysts still believe that a large rebound is imminent this week based on the latest economic data showing that the prices of goods imported into United States have increased. It’s no surprise that inflation is growing at frightening levels at the moment, and there is still much worse to come despite efforts from global governments to blindfold citizens into feeling that everything is getting better. The United States Government and the Federal Reserve have already spent $10 trillion since the beginning of this financial crisis, and the long-term results of these actions could be self destructive on our economy. Short-term projections are showing that equity markets could rebound while the value of $20 Saint-Gaudens coins and other popular gold products may stay flat until hard-working Americans fully realize the true danger of this recession. Fortunately, precious metals in the form of $20 Saint-Gaudens coins have the ability to thrive during this inflationary period better than most other assets.
Today the gold spot price has fallen to $870.30 per ounce, down $23.50 or 2.63% for the trading day and also down $68.10 or 7.26% in the last 30 trading days. In a recent survey, 71% of traders from Bloomberg News believe that prices will rebound this week as a result of further negative economic data. Invest well and don’t miss the opportunity to purchase safe haven assets while their spot prices are low.
Senior Staff Writer – Certified Gold Exchange
US Gold Market