Daily Gold Coin Update
June 10, 2009 – Since the beginning of 2009, gold coin projections have been increasingly bullish as the financial crisis has shown signs of worsening nearly every day. Earlier in the year there seemed to be a wide array of gold coin projections that were released by several top market analysts and financial institutions, some of them forecasting significantly lower spot prices while others forecasted that the medal was soon to surpass its all-time record high. It now appears that many of the bearish market analysts have changed their minds, especially since major news sources along with the United States Government are reporting that we will face high inflation and higher interest rates down the road. For those of you who don’t know what happened during the last high inflation, high interest rate cycle of the 1970’s, gold ended up increasing in value more than 800% as wise investors flocked to the safe haven metal as the ultimate hedge from inflation and a weakening economy. Most market analysts do not believe that spot prices will increase exponentially as they did in the late 1970’s, yet several have made gold coin projections forecasting between $1100-$1500 per ounce before the end of this financial crisis.
By around 1:20 PM Eastern Standard Time, the majority of gold bullion coins are decreasing in value slightly while several investment-grade certified rare coins continue holding on strong to their value as the spot price makes a miniscule drop to $954.30 per ounce, down $.30 for the trading day yet still up $61.70 in the last 365 trading days.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
