Posted by Adam King on February 17, 2009
Now Approaching $1000 Ounce
February 17, 2009 – Today certified coins are benefiting from the recent price spikes that have been occurring in the gold market as a result of many investors flocking to safety during these troubling times. Wise investors who have recently purchased are now sitting back and enjoying the gains that their precious metals have given them and with the economy only getting worse by the day… more rewards may be underway. During early-morning trading we saw the spot price of gold spike up quickly as a result of the worsening recession, and Eastern Europe looks like it may end up being in worse condition than what is being experienced in the United States. These sharp movements in value are pushing the spot price closer and closer to $1000 per ounce and many market analysts believe that it’s almost inevitable that prices will reach that high with such an immense interest for precious metals and certified coins at the moment.
During the midday trading hours gold is up to around $967.50 per ounce, this is an increase of $25.90 or 2.75% for the trading day and also an increase of $125.10 or 14.85% in the last 30 trading days. As investors continue to aggressively add physical possession metals and certified coins to their portfolios, we could see the latest market projections become a reality due to the higher demand and shorter supply of these preservative investments. I wish you the best luck when investing precious metals.
Senior Staff Writer – Certified Gold Exchange
US Gold Market