December 29 - Daily Gold Coin Update
December 29, 2008 – Gold coins continue to be affected by the current global problems, which are bringing gold and other precious metals to higher levels than expected. The problems in the Middle East are causing increased demand by investors looking for a safe haven during tough economic times. These investors are turning to gold coins because they have proven to historically gain value when currencies decline and when war is a possibility. As the Israel dilemma continues, we could see the prices of gold coins skyrocket temporarily as more and more investors seek refuge from a possible storm.
Speaking about storms, worldwide currencies continue getting rained on as they reach record lows with no positive end in sight. Will money ever be worth the same ever again?
The current COMEX gold spot price is $879 per ounce, a 1.20% increase for the day, a 9.6% increase for the month and a 6.53% increase for the year. It’s almost 100% positive that gold will end the year in its eight straight yearly gain and $950 to $1000 per ounce is a high possibility in the coming months as investors continue to turn to precious metals as the ultimate alternative investment. Whatever the future has in store for investors, it’s very likely that stocks could continue to decrease while precious metals adversely increase as they have done so many times before. The future looks bright so have a beautiful holiday season and invest well.
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
