Daily Gold Coin Update
March 12, 2009 – Many investors are catching on to the gold trend and they want to diversify into the metal by picking up pure 24 karat products such as the Buffalo coin and the Canadian Maple Leaf. Although the American Eagles and South African Krugerrands are less expensive, American investors still enjoy the prestige and elegance of a purer coin with no additional filling. It’s no doubt that the metal has become one of the most appealing commodities to own at the moment, and the latest projections and market news are making it even more of a “hot buy” for 2009. There has also been some news spreading around about the scarcity of new gold mines, which could severely cripple the supply in a few years, thus greatly increasing the cost of things like the Buffalo coin due to the lower supply and significantly higher demand. It’s important that investors and collectors understand these factors in order to maximize their investment potential during this financial crisis.
Today the spot price of the metal is rebounding for the second day in a row, with an impressive gain in price that is currently $924.90 per ounce, shooting up $17 for the day and $9.60 for the month. There have been a lot of speculative market projections lately and I’ve noticed that people are either completely optimistic or completely pessimistic about the future of gold products like Buffalo coin. On one hand, people think that inflation and lower supply will skyrocket prices, while on the other hand, people think that the economy will rebound and that a stronger United States Dollar and equity markets will put pressure on precious metals. Let’s see what will happen.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
