Daily Gold Coin Update
April 20, 2009 – Many American investors are beginning to have doubts about the short-term stability of mainstream financial markets along with banks after several posted higher-than-expected first-quarter earnings that are masking billions of dollars in toxic debt, thus the safe haven demand for American Eagle coins and other gold products is increasing as investors begin to flock to them in order to preserve wealth during these troubling economic times. The United States Dollar is also increasing in value today for the fifth day in a row, which marks the longest streak since January, and this is limiting the gains that American Eagle coins are experiencing at the moment. Still, the dollar may see a contraction down the road after today’s massive slump with global equities. Market analysts from Bloomberg.com are expecting gold to continue spiking in the short-term as a result of both safe haven and jewellery demand, so don’t miss the chance to take advantage of the market while projections are bullish.
By around 1 PM Eastern Standard Time, it appears that American Eagle coins are increasing in value significantly side-by-side with the spot price of gold that currently sits at $886 per ounce, moving up 2% for the trading day yet moving down 7% in the last 30 trading days. A recent survey from Bloomberg.com mentioned that 41% of traders, investors and market analysts believe that spot prices may continue increasing in value this week. Let’s keep a close eye on the market along with the key external economic factors that fluctuate pricing such as the United States Dollar and stock markets.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
