Daily Gold Coin Update
March 4, 2009 – In the last eight days, the gold spot price has decreased roughly about $100, yet investors around the nation are still looking for the ideal certified gold coin for their investment portfolio to back them up and give them the profitable an preservative attributes they seek greatly during this financial crisis. Although there has been a small amount of increased confidence in the United States Dollar as well as with equities, many wise investors don’t feel safe with the state of the economy and thus they have begun investing in precious metals or any certified gold coin that has a good history of thriving during these historically difficult times. There is an overall increased demand for physical possession gold that is being shown by some of the latest data released by the World Gold Council. They reported a 64% increase in demand in 2008 and an 87% increase in demand for bars and coins. It’s also important to note that Europe is catching on to this trend and their bullion bar and certified gold coin demand has increased 1170%, a massive number that could signal a safe haven epidemic in the Old World.
During midday trading the spot price of gold is moving down to around $908.50 per ounce, a drop of .80% for the day yet a rise of .41% in the last 30 trading days. The market has looked a bit stale for the last eight days based on a large amount of profit taking that is commonly seen when investing precious metals. Fortunately, projections are looking better than ever and 2009 has the potential of shaping up into one of the best safe-haven investing years seen in a very long time.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
