Daily Gold Coin Update
May 6, 2009 – Wise investors buy gold bullion coins for various important reasons, but it’s their short-term profitability attributes that makes them so interesting to those who have experienced massive chunks of their wealth wither away with unstable stocks, bonds and real estate. In the past eight years, mainstream financial markets have crumbled as the United States slid into the recessionary cycle that we are in today, yet those who decided to buy gold bullion coins back in 2001 have made about 300% profit from their initial investment. The metal historically thrives during troubling economic times, and this time seems no different. Global financial markets may continue to experience pressure as safe haven demand begins to push more wise investors to buy gold bullion coins as opposed to any asset that is tied directly to the strength of a fiat currency.
Today it appears like both bullion and certified rare coins are seeing moderate increases in value, and this is occurring because the gold spot price is continuing its rally, currently sitting at $908.90 per ounce, moving up 1.45% for the day and also moving up 3.8% in the last year. Several market analysts are expecting further gains as the economy worsens and government bank stress tests show major vulnerabilities with our economy. The United States is not of the woods yet, and any further negative economic data could cause a significant rally into safe haven precious metals which may push spot prices into their projected region of $1100-$1200 per ounce by the middle of the summer.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
