Certified Gold Coins
Posted by Adam King on July 15, 2009
Gold Holding Strong
July 15, 2009 – Both bullion and certified gold coins are extending their gains today as the spot price of the metal increases considerably based on growing inflationary fears due to rising prices across the board. The Producer Price Index and Consumer Price Index for June have shown that inflation is slowly but surely growing in our economy. According to several market analysts, this should not come as a surprise to Americans, especially since the United States Government has overprinted trillions of dollars in the past few years in order to prevent an economic collapse. Safe haven demand across the nation has sparked after the United States Dollar Index took an unexpected dive, thus causing many investors to purchase bullion and certified gold coins as their ultimate hedge from weakness with dollar-backed assets. A few interesting short-term market projections are saying that further dollar-weakness could cause significant demand for risk aversion assets, thus gold could benefit within the next few weeks if the fiat currency extends its losses.
During the midday trading hours, wise safe haven investors are continuing to purchase bullion products for short-term profit and certified gold coins for long-term preservation as uncertainty continues in our economy, thus the higher demand has pushed the gold spot price to $940 per ounce, increasing $15 for the day and also increasing $12.30 in the last month. It is highly recommended that investors keep a close eye on both spot prices and the United States Dollar Index because they are currently experiencing a very powerful inverse correlation that could continue throughout the year.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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