Daily Gold Coin Update
June 16, 2009 – Gold coin pricing is headed right back up today after some consecutive losses that have been seen in the past few days, and this is occurring due to lower confidence with the United States Dollar as the world’s main reserve currency. Just like with the recent instability with stocks, it appears that the dollar is facing a very bumpy road, especially since Russia has just mentioned that the world needs new reserve currencies to replace the dollar, and this comes after a comment from the Russian Finance Minister saying that the dollar’s prominence as the world’s major reserve currency would be safe. It seems like governments around the globe are saying and doing anything they can in order to delay a massive loss of confidence in their economies. Take the United States’ Federal Reserve for example, that has just recently mentioned that we are currently on our way out of this economic recession, yet the dollar is floundering versus other major currencies, unemployment is near 10% nationwide and major stock indexes have tumbled as corporations crashed amidst the worst financial crisis since the Great Depression of the late 1920’s. Fortunately, wise investors could protect themselves with a proper precious metal diversification, because gold coin pricing tends to increase during both inflationary and deflationary economic environments.
By around 1:40 PM Eastern Standard Time, gold coin pricing is rebounding as the United States Dollar and major global stock indexes are seeing moderate contractions for the session, thus the gold spot price has climbed to $931.10 per ounce, increasing .33% for the trading day and also increasing 5.61% in the last 365 trading days.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
