Daily Gold Coin Market Update
July 7, 2009 – Gold bullion coins have long been a favorite to short-term profit seeking investors because their low premium above the spot price of gold makes them an easy profit-taking tool for those who know how to track the market correctly. There are many different types of gold bullion coins available for investment purposes, and the most popular are the 22-karat American Eagles and South African Krugerrands along with the 24-karat Canadian Maple Leafs and Chinese Pandas. Many wise American investors love these bullion coins because they allow them to profit quickly when the spot price is on the rise, and for example, several investors who held them between the years of 2001 and 2008 made more than 300% profit on their initial investment. When purchasing any type of bullion products, it is very important that you understand that most investors do not use these for long-term wealth preservation purposes because they are considered much more volatile when compared to certified rare coins like the $20 Saint Gaudens and $20 Lady Liberty. Always make sure that you deal directly with a gold market expert before beginning a diversification in order to find out exactly which types of coins could benefit your portfolio best.
By around 2:30 PM Eastern Standard Time, it appears that the majority of gold bullion coins are increasing in value side-by-side with the spot price of the metal that has officially rebounded after last week’s consistent losses, thus today’s higher demand has pushed the gold spot price to $928.80 per ounce, jumping up $3.30 for the trading day.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
