Daily Gold Coin Market Update
July 2, 2009 – Gold is declining on the New York Mercantile Exchange today, yet the overall long-term demand for gold investments is not fading away, especially as speculation begins to rise about long-term inflationary pressures that could wither away at the United States Dollar down the road. Historically, wise American investors flock to gold investments such as modern-day bullion coins and investment grade rare coins as a hedge from problems with dollar-backed assets, and lately there has been some increasing speculation about global leaders discussing a new reserve currency that could overtake the dollar. This is causing many wise American investors to think twice before purchasing dollar-backed assets, thus save haven demand for gold investments continues to increase because the metal historically thrives during times of economic distress. The latest short-term market projections are forecasting that further weakness with the United States Dollar could spark a rally into safe haven investments once again, so don’t forget to keep a close eye on the inverse correlation between the Dollar Index and spot prices in order to potentially maximize your short-term profit potential with gold at the moment.
By around 3:30 PM Eastern Standard Time, the majority of bullion gold investments are losing value after significant gains that were made yesterday, yet it appears that several investment grade rare coins are actually increasing in value despite the tumbling spot price that currently sits at $930 per ounce, falling 1.10% for the trading day, and also falling 4.58% in the last 30 trading days. Market movement will be limited over the Fourth of July weekend, but let’s see if the upcoming G-8 meeting creates higher safe haven demand as many market analysts have forecasted.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
