Daily Gold Coin Update
May 7, 2009 – A streak of technical buying along with worsening economic data is causing many wise American investors to find the best gold coin prices in order to enter the precious metal market on the right foot. Today is a very important day for the overall state of the economy because the European Central Bank will announce a key interest rate cut along with their latest quantitative easing measures. In other news, the long-awaited bank stress tests will be released earlier in the day and it appears like there is some mixed sentiment as to what they will report. Some investors and market analysts believe that optimistic results may signal the end of this financial crisis while others feel that pessimistic results will signal the beginning of a spiral into the second Great Depression. United States Treasury Secretary Timothy Geithner just recently said that the banking system would be able to withstand whatever stresses the recession may bring. Uncertainties about these types of announcements is one of the main reasons why wise investors are deciding to find the best gold coin prices before it’s too late.
By around 1 PM Eastern Standard Time, it appears like gold is beginning to pick up some momentum as the spot price is climbing to $917.10 per ounce, jumping up $6.10 for the day and also jumping up $49.30 in the last year. The metal is currently showing a direct correlation with the United States Dollar, so it is highly recommended that investors track currency indexes as well as spot prices when seeking the best gold coin prices.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
