Posted by Adam King on March 30, 2009
March 30, 2009 – Certified gold prices rebounded today after a large amount of negative economic data proving that the United States recession may take longer to end. The United States Treasury has already announced that several banks will need large amounts of government aid and that bankruptcy could be the best option for failing auto making companies such as General Motors and Chrysler, some of the biggest names in American manufacturing. It comes as no surprise that the global recession is only worsening by the day, and stocks in particular have been affected heavily by floundering corporations that are doing anything to just barely stay afloat. Several investment-grade certified gold coins have increased in value about 4.8% this year while the Standard & Poor’s 500 Index has fallen 9.7% and the Dow Jones Industrial Average has also fallen 11.4%. This could be a good time to take advantage of the market by purchasing certified gold coins in order to protect spending power and hard-earned wealth.
Today, the gold spot price is making some small gains that are a direct result of negative economic data, and the metal is currently trading at $925.30 per ounce, up $2.20 or .24% for the trading day and still down $14.30 or 1.52% in the last 30 trading days. Short-term projections are expecting the metal to trade at around $965 per ounce with the possibility of climbing even higher if governments worldwide fail to find a resolution to the global financial crisis. Invest well.
Senior Staff Writer – Certified Gold Exchange
US Gold Market