Posted by Adam King on May 12, 2009
Currency Crisis On The Horizon?
May 12, 2009 – The United States Dollar continues its losing streak versus other major currencies, and this is causing many market analysts and investors to believe that a currency crisis is on the way. The floundering dollar and equity markets have created more safe haven demand for physical possession bars and coins like the American Eagles and certified Indian coins. Currently, gold and the United States Dollar are experiencing a powerful negative correlation that is being caused by wise investors flocking away from the fiat currency in exchange for a historically more preservative asset. An interesting interview with investor Jim Rogers noted that he believes that the United States will undergo a currency crisis either this fall or the fall of 2010. He said that this has been building up for quite a while now and that the artificial rally in the dollar will eventually collapse into a currency crisis. Fortunately, wise Americans can invest in popular gold products like the American Eagles and certified Indian coins in order to protect their hard-earned wealth from the problems that may lie ahead.
By around 11:20 AM Eastern Standard Time, it appears like certified Indian coins and other investment-grade rare coins are preparing to increase in value side by side with the modern-day bullion products that are seeing small gains with the spot price of gold that is currently at $919.90 per ounce, up $6.60 or .72% for the day and also up $39.10 or 4.44% in the last month. Spot prices are experiencing significant support at the moment, with the dollar and equities floundering which historically creates safe haven interest by investors who want to hedge their hard-earned wealth.
Senior Staff Writer – Certified Gold Exchange
US Gold Market