Daily Gold Coin Update
February 13, 2009 – 22-karat gold coins such as the American Eagles, British Sovereigns and South African Krugerrands have all lost a few dollars in value today as the market sees some small profit-taking due to the rally that brought the metal to its seven-month high. Although today we are seeing prices at a decline, there are still many predictions going around that say that once inflation takes off by the end of the year, prices could spike to unimaginable levels due to the massive amount of money being pumped into our economy and banks in order to restore confidence in the United States Dollar. The fear of this high inflation is heavily increasing the appeal for physical possession 22-karat gold coins as well as any other precious metals that investors can get their hands on at the moment. Stocks and crude oil adversely lost value during early-morning trading and started to increase nearing midday due to news that the United States is working on programs to aid its citizens.
Today the daily market spot price of gold is at around $939.50 per ounce; this is a .81% decrease for the trading day but still a 15.90% increase in the last 30 trading days. An investor who, for example put $1 million into 22-karat gold coins early last month would have made roughly $150,000 in profit since then. This being said, doesn’t it make sense to own precious metals during these difficult economic times? I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
