Certified Coins
Posted by Adam King on June 09, 2009
Balancing Act
June 9, 2009 – Today the gold spot price is rebounding as wise American investors are currently flocking to bullion and certified coins as the ultimate hedge from inflation that may occur down the road after the Federal Reserve mentioned that they would increase interest rates if the economy continues showing signs of “recovery.” It’s quite humorous that the government believes that a recovery is underway, especially since unemployment is at 9.4% and rising while stocks, bonds and real estate continue with their dangerously unstable patterns, yet the most frightening of all is the inflation that is currently growing at a frightening speed. During the 1970’s, the Federal Reserve increased interest rates while inflation was on the rise at the same time, and this caused gold to spike in value more than 800% as investors flocked to the safe haven metal as a hedge from a crumbling dollar. Fortunately, gold bullion and certified coins have proven their wealth preservation potential in the past, and they just might continue with their legacy as the years go on. Don’t be surprised if the metal increases in value exponentially down the road.
By around 12 PM Eastern Standard Time, the majority of bullion and investment-grade certified coins are increasing in value as the gold spot price begins a recovery, currently sitting at around $955.20 per ounce, up $4.50 for the trading day and also up $39 in the last 30 trading days. The key resistance level at the moment is $965 per ounce, so keep a close eye on that level because after that, the sky could be the limit for gold.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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