Posted by Adam King on April 22, 2009
Risk Aversion Frenzy
April 22, 2009 – The United States economy is continuing to get progressively worse by the day, and masses of wise investors are beginning to track certified gold coin pricing in order to begin a diversification in a historically preservative and profitable asset that just so happens to thrive during these troubling times. Reuters has officially reported that the world economy has fallen into a severe recession while the United States economy in particular is showing small signs of contracting a bit slower than expected. In the past few days we have seen the majority of stock indexes rally after US Treasury Secretary Timothy Geithner said that the “vast majority” of national banks have enough capital, yet today we’re seeing further signs of bank weakness especially since companies like Morgan Stanley and Capital One Financial Corp. posted lower-than-expected earnings. All of this negative economic data is benefiting certified gold coin pricing because investors are flocking to risk aversion assets as opposed to risky stocks and bonds.
During the midday trading hours, certified gold coin pricing is headed in the upward direction side-by-side with the daily market spot price of the metal that currently sits at $887.10 per ounce, up $3.80 or .43% for the trading day yet still down $51.10 or 5.45% in the last 30 trading days. Short-term projections continue looking bullish, and it seems like the majority of market analysts are expecting spot prices to breach the $900 per ounce benchmark by the end of the week as a result of higher bullion demand in India.
Senior Staff Writer – Certified Gold Exchange
US Gold Market