Posted by Adam King on March 18, 2009
March 18, 2009 – Certified gold coin values have been holding onto their preservative qualities since the metal was up to $1007 per ounce on February 20, and today they remained flat despite sharp drops in the spot price. There seems to be a lot of speculation that the United States economy will recover sooner than expected and this is causing reduced safe haven demand, which in turn has driven several investors away from the market, yet many do not understand the problems that may lie ahead of us. Wise investors purchase precious metals such as the certified gold coin in order to act as a hedge from inflation, and the recently released data shows that United States consumer prices have moved up for the second straight month in a row. The mild inflation we are experiencing at the moment is petty compared to the shock people could experience when hyperinflation kicks into overdrive as a result of trillions of printed paper dollars devaluing our hard-earned wealth.
A certified gold coin investment could be a wise market movement at the moment, especially since the spot price of the metal sits at around $887.40 per ounce, down $27.50 or 3.02% for the trading day and also down $53.70 or 5.71% in the last 30 trading days. Short-term predictions are expecting spot prices to trade in the area of $890 per ounce until further negative economic data becomes released. Does the metal have the potential to permanently push beyond the $1000 per ounce benchmark?
Senior Staff Writer – Certified Gold Exchange
US Gold Market