Gold Coins
Posted by Adam King on August 20, 2009
All In The Green
August 20, 2009 – Gold coins continue increasing in value today, extending their gains for the third consecutive trading session as investing markets in general are in the green across the board as a result of mixed investor purchasing that is being led by both optimistic and pessimistic outlooks about our economy. United States jobless claims unexpectedly increased, further proving that our nation’s unemployment rates are a severe problem at the moment. The overall nationwide unemployment is already approaching 10%, and this vital number typically signals the beginning of a depressionary economic environment. According to several market analysts, negative economic data may continue flooding into investing markets, thus investors may flock away from weakening dollar-backed assets in exchange for safe haven assets like gold coins that have thrived since the turn of the millennium. Between 2001 and 2008, several gold coins increased in value more than 300% while stocks, bonds and real estate markets withered amidst a contracting economy.
By 11:45 AM Eastern Standard Time, it appears that investment-grade gold coins are slightly increasing in value as the spot price of the metal is continuing its climb, currently fluctuating around $941.90 per ounce, increasing $.70 for the trading day, and also increasing $129.40 in the last 365 trading days. The latest short-term market forecasts have predicted that the United States Dollar Index may continue to weaken, which in turn could lead to higher gold prices down the road. This being said, don’t forget to closely track the Dollar Index along with its inverse correlation to precious metal spot prices.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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