The Second Trading Week Begins
Posted by Adam King on January 12, 2009
January 12, 2009 – Certified gold coin prices continue to remain stable despite the drop in gold spot price due to loss of physical demand over the weekend and a firmer United States Dollar. The Dollar continues to ride high and has some momentum by its side right now due to other currencies such as the Euro experiencing historical problems. Although the spot price has fallen, certified gold coin prices and the metal in general could see an immediate surge in demand for physical possession in the near term due to worried investors turning towards it as a safe haven during difficult times. It’s obvious that demand is only increasing and last year 23.2 billion ounces of gold were traded compared to 2007’s 19.3 billion ounces. The future continues to look positive for investors and demand should surpass last year’s numbers and we could even see the record high of $1030.80 or more as the economy weakens.
The gold spot price is around $823.10, down $30.50 or 3.57% for today but still up $1.10 or .13% in the last 30 days. The metal has bounced up more than 20% since tumbling to its 13 month low seen in late October and current low prices could mean some significant boosts in the near term as investors take the opportunity to invest while prices are low. My advice is are to keep our eyes on the United States Dollar as well as certified gold coin prices and invest when you feel the time is right. Have an excellent day!
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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