Daily Gold Coin Update
March 10, 2009 – American gold coin investors are witnessing such a sharp decline in the market at the moment that many have begun to purchase coins like the American Eagle and $20 Saint-Gaudens once again in order to benefit from yet another price spike that could occur in the upcoming weeks. Lower American gold coin prices usually signal an excellent time to enter the market and with the recent projections saying that inflation could bring prices to more than double in the next few years, it makes sense to own a few coins while we still can. Long-term physical possession demand for precious metals continues to increase based on speculation that the United States will begin a battle against hyperinflation in the near future due to massive amounts of fiat currency being injected into our economic system. Let’s hang on tight and see if 2009 has the potential to bring American gold coin prices above and beyond their record highs.
Today the spot price of gold is falling to around $894 per ounce, down 2.98% for the trading day and also down 1.91% for the last 30 trading days. Another recent spot price projection by UBS London spoke about the potential that the metal has to grow as investors may seek a hedge against inflation and deflation in the near future, which could increase prices to around $2500 per ounce in the next few years. So far so good, but first let’s see when the record high of $1033 per ounce will be surpassed.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
