January 5 - Daily Gold Coin Update
January 5, 2009 – Gold coins lose some ground today due to a strengthening dollar despite projections that many gold coin retirement accounts could see significant increases by the end of this year. The current gold spot price sits at around $852.10 per ounce, making it a $22.80 decrease for the day but still a $97.80 increase in the last 30 days. Gold prices will remain sensitive to movement in oil as well as the obvious movement in the United States Dollar that came rather unexpected to many investors. Only time will tell where we end up hopefully this turns out to be a good year for both physical possession investors as well as those who have gold coin retirement accounts.
An interesting forecast made by Byron Wien, an investment strategist at Pequot Capital Management Inc., said that gold will rise to $1200 per ounce and oil will rise to $80 a barrel. This projection along with many others is what has driven investors around the United States to purchase physical possession gold coins as well as gold coin retirement accounts. Now may just be one of the best times to invest in precious metals because the future of the economy doesn’t look too good and it’s times like these that precious metals thrive in. If you don’t already have a solid alternative investment, this may be the opportunity for your future. Best wishes and have a great day!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
