Another Day, Another Dollar
Posted by Adam King on January 07, 2009
Another Day, Another Dollar
January 7, 2009 – PCGS certified coins seem to be one of the only commodities holding their value right now as everything from gold and silver to oil and the United States Dollar fall today as investors become confused with what they should invest in next. It’s only obvious that as the economy continues to sink, things like PCGS certified coins might be the ultimate tool for preservation and profit as they have shown time and time again. The future for commodities and currencies are faded but with excellent projections saying that gold could be $1200 per ounce, this could mean tougher times for the United States Dollar and anything else that is adverse to precious metals.
Gold is trading at around $841.90, down $21.60 or 2.62% for the trading day but still up $69.50 or 9.1% for the last 30 trading days. It’s almost certain that gold spot prices will rebound with the federal fund rates falling to a record low. These rates will remain low in the long term in order to help our economy recover from the deep recession we are currently in.
It’s important to keep our eyes on currency trading if we want to project the future of our precious metal investments because historically they are adverse to one another and when one goes up, the other usually goes down. Although there are times when both may rise and fall at the same time, such as today with both of them falling. Although most investments are now going through difficult times, it is very impressive to see that PCGS certified coins have maintained such a solid amount of value and solidity for investors. Have a great day and invest well!
Arthur McGuire
Senior Staff Writer – Certified Gold Exch
Categories:
US Gold Market
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