January 14 - Daily Gold Coin Update
January 14, 2009 – Gold coin pricing starts to increase today after a three-day decline and yesterdays one-month low due to increased safe haven demand during these troubling times. The United States Dollar continues to increase today and even though gold coin pricing is adverse to the Dollar, both seemed to increase today as investors regain confidence in both the currency and the metal as the ultimate safe haven investment. Current projections are saying that the United States Dollar should be decreasing in the near future and that gold should be increasing adversely to it unless more advanced stimulus and government response to the global economic crisis takes place before it’s too late. It may already be too late, which is why investors who plan on preserving their wealth should have had precious metals yesterday, and if they have not invested already, now may be the best time.
Currently, gold is trading in the area of $825.10 per ounce, which is a $5.20 increase for the trading day and a $3.10 increase in the last 30 trading days. Gold coin pricing projections continue to remain solid in the $900-$1150 range by midyear unless of course government intervention in the economy actually works, if not then we could see spot prices shoot up to even higher levels and even the more speculative projections such as $2000 per ounce could be a reality as investors continue to flock to the metal while everything else is crumbling. All we can do is hope that things get better, but until then we’ve got precious metals to back us up. Have a beautiful day and invest well!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
