Daily Gold Coin Update
May 4, 2009 – The Canadian Maple Leaf gold coins are Canada’s pride and joy bullion product minted exclusively by the Royal Canadian mint. Many bullion investors love the Canadian Maple Leaf gold coins because they are a pure 24-karat coinage as opposed to the lower quality 22-karat coinages like the American Eagle and South African Krugerrand. They have been widely available since 1979, and have increased in popularity since then because they were the second bullion coin that American investors could purchase after the gold ban was lifted in the 1970’s. Nowadays, the Maple Leafs are one of many possible diversification options that are commonly recommended for short-term profit takers as opposed to those looking for long-term wealth preservation because of the fact that they are susceptible to government confiscation in the event that the United States economy continues to fail and the metal is needed to back up the dollar, as was done in 1933.
During the midday trading hours, Canadian Maple Leaf gold coins along with the majority of other bullion products and investment grade certified rare coins are increasing in value because the daily market spot price of the metal has shot up to $902.20 per ounce, increasing $16.80 for the day and also increasing $8.80 in the last month. Spot prices may continue to increase throughout the week in the event that the upcoming government bank stress tests come back worse than expected. Also, pay close attention to the strength of the United States Dollar, which may lose value if investors flock into safe haven metals as opposed to riskier assets and fiat currencies.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
