Daily Gold Coin Update
February 12, 2009 – 24-karat gold coins like the Canadian Maple Leafs and the Austrian Philharmonic’s are currently increasing in demand dramatically as investors nationwide seek higher quality precious metal products in order to profit the most from this financial crisis. Financial instability continues to be the main driving factor for the rally to precious metals and everything from stocks to crude oil and the United States Dollar have been on a constant decline for the past week or so. A recent Bloomberg.com article I read said that investors in 10 markets from New York to Paris and Tokyo have forecasted that equities will continue to lose value during the next six months and many have already plunged more than 26% in the past year. Historically during times like these, 24-karat gold coins and precious metals are purchased in order to act as a store of wealth and a hedge against inflation. These metals hold a lot of potential at the moment with the economy only getting worse by the day.
Today we see the gold spot price increase into the area of $948.40 per ounce, a $9.30 increase for the trading day, a $120.10 increase in the last 30 trading days and a $42.50 increase in the last 365 trading days. We’re seeing spikes in value all across the board and the recent market projections are saying that things should only continue getting better for precious metals such as 24-karat gold coins, especially since they are projected to increase into the area of $2000 per ounce by next year due to the inflation that could result from government stimulus and bail-out packages. I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
