Daily Gold Coin Update
March 9, 2009 –Gold coin value is decreasing today due to a stronger United States Dollar, higher crude oil prices and increasing US stocks. The metal has restored its historical tendency to be adverse to our fiat currency after being completely detached for a few months. In the past two sessions, gold coin value has increased 4% due to higher safe-haven buying as a result of worsening economic news. Although prices have fallen today and equities are increasing in value, many market analysts are predicting both to exchange places soon, with the metal increasing and stocks tumbling once again. Yesterday the World Bank announced that the global economy is likely to shrink for the first time since World War II, they also said that trade would decline by the most in 80 years. The financial crisis is certainly becoming well known around the world and in the United States the average monthly job losses are more than 600,000. Will the recession end soon, or will we enter a deeper and darker second Great Depression?
Gold coin value has fallen today along with the spot price of the metal that is currently at $918.80 per ounce, falling $19.60 or 2.09% for the day. In the beginning of last week, we saw an 8.7% decrease in value that quickly rebounded about 4% due to investors beginning to take advantage of the lower spot prices. Many people are fully starting to realize the potential of precious metals during these economically challenging times, thus demand may increase substantially in the near future. Invest well and hang on tight to see what the year has in store for us.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
