Posted by Adam King on May 01, 2009
And May Begins…
May 1, 2009 – The new month has begun and it appears like certified coin values are still holding on strong despite the daily market spot price of gold losing a small bit of ground today. There seems to be some emerging economic optimism that is lowering safe haven demand and increasing risk-taking demand around the world, and this is being caused by stronger global equities as well as chunks of economic data showing that a short-term stabilization is occurring. Several market analysts believe that there’s still worse to come despite this short-term optimism that is similar to a blindfold on the eyes of investors and citizens. Inflationary pressures are still very apparent and we could see them even grow if the United States Government decides to pump more dollars into our financial system in order to further prevent an economic collapse. Wise investors are keeping a close eye on the upcoming bank stress tests because any negativity with them may significantly increase gold bullion and certified coin values.
By around 11:30 AM Eastern Standard Time, certified coin values are remaining flat while bullion has fallen just a bit, currently trading at $883.80 per ounce, down $2.30 or .26% for the day and also down $43.50 or 4.69% in the last month. During April, the metal fell 3.4% while several stock indexes increased more than 9%, and several market analysts are expecting a complete rebound by the summertime because they feel that investor sentiment will shift from risk-taking to safe haven as the financial crisis continues to worsen.
Senior Staff Writer – Certified Gold Exchange
US Gold Market