Daily Gold Coin Update
February 17, 2009 – The Canadian Maple Leaf along with precious metals in general are increasing in popularity all over the world as even more speculation arises that the financial crisis will not end anytime soon. Today during early-morning trading gold hit its seven-month high and opened up on a strong note based on fear that the United States, Europe and Asia could be affected worse than expected by the economic problems. The metal has almost become a type of reserve currency and wise investors are utilizing it in the best way possible as a safe haven asset and as a profitable tool that historically rises when other investments are falling. With the increased concern of a second Great Depression occurring within the next two years, it surely does make sense to own precious metals such as the Canadian Maple Leaf and $20 Saint-Gaudens in order to balance out any losses that we may experience from other unsafe investments at the moment.
Gold is currently trading at around $967.50 per ounce; this is a rise of $25.90 for the day and $125.10 for the month. The latest projections for the metal have been nothing less than exciting especially since so many wise market analysts believe that we could be seeing $1500 per ounce by the end of the year and possibly between $2500-$5000 per ounce by 2012. Although these projections seem speculative, we’ve seen exponential increases in value in the past and there’s no reason that we can’t see it again with the economy even worse than it was during those times. The sky is the limit with the Canadian Maple Leaf and virtually any other safe haven precious metal at the moment. I wish you the best luck with investing.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
