NGC Certified Coins
Posted by Adam King on June 11, 2009
The Rebound
June 11, 2009 – Gold spot prices are rebounding today after some negative fluctuation that has been seen in the past week, and the overall physical possession demand gold bullion along with PCGS and NGC certified coins is on the rise as wise American investors are flocking to safe haven assets as the United States Dollar tumbles amidst a worsening economic recession. The dollar has fallen nearly 1% today while crude oil prices have risen to a seven-month high, coming as no surprise especially since oil typically increases significantly during the summer. Several investment grade PCGS and NGC certified coins are currently increasing in value inversely to the dollar because historically, gold products gain when fiat currencies fall. The latest short-term and long-term market projections have been quite interesting, especially since many are saying that inflation could significantly devalue the United States Dollar unless the government takes massive preventative measures as of now.
During the midday trading hours, the majority of gold products are increasing in value as the spot price has officially rebounded from a short-term slump, and it appears that several PCGS and NGC certified coins are in the spotlight because they have shown minimal downward movement since the metal decreased $30 from around $980 per ounce. The current gold spot price sits at $957.90 per ounce, up $3.80 or .40% for the day and also up $35.10 or 3.80% in the last 30 days. Keep a close eye on the Dollar Index in the short-term because the metal will most likely continue trading inversely to it.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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