PCGS Certified Gold Coins
Posted by Adam King on August 24, 2009
All Eyes On The U.S. Dollar
August 24, 2009 – The gold spot price has taken a minor step backwards today, yet several investment-grade PCGS certified gold coins are holding on strong to their value as they commonly do when spot prices experience sudden fluctuation. Today’s market fluctuation is no surprise to many investors, especially since the metal has rallied significantly in the past three weeks. According to several market analysts, short-term market movement will likely depend on the United States Dollar, especially since both assets have been trading in a powerful inverse correlation since the beginning of the year. Investment-grade PCGS certified gold coin like the $20 Saint Gaudens and $20 Lady Liberty may continue increasing in value down the road if gold in general maintains its traditional role as a hedge from inflation, deflation and anything in between. This being said, it’s very important that we closely track the United States Dollar Index in order to potentially determine short-term fluctuation with our safe haven investments.
By 11:45 AM Eastern Standard Time, it appears that bullion coins are losing some value while investment-grade PCGS certified gold coins are remaining flat as the spot price of the metal takes a step back, currently sitting at $951 per ounce, decreasing $2.70 for the trading day, yet increasing $128.80 in the last 365 trading days. The latest short-term market projections have forecasted that the spot price may experience some initial resistance around $960 per ounce, yet higher safe haven demand could mean a breach of this resistance level, potentially hitting $975 per ounce if conditions are right.
Arthur McGuire
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market