Daily Gold Coin Update
May 5, 2009 – Bullion gold coin pricing is increasing today for the second consecutive trading session while certified investment grade rare coin pricing remains flat due to only minimal gains in the daily market spot price. Gold is currently trading at a one-week high while several external economic factors continue to drive more and more investors into the market due to fears that the recessionary cycle may worsen sooner than expected. Yesterday, gold coin pricing increased about 1.8% while the United States Dollar fell to a four-week low versus the euro. The overall weakness with the dollar is creating speculation that inflationary pressures may be growing in our economy, and this comes as no surprise, especially since our government has pumped billions of dollars since beginning of this recessionary cycle in order to delay an economic collapse. It’s fortunate that wise American investors can diversify into safe haven precious metals in order to potentially protect themselves in the event that things get worse.
During the midday trading hours, gold coin pricing is experiencing minimal gains, up to $904.20 per ounce, an increase of .11% for the day, an increase of 1.16% in the last month and an increase of 3.46% in the last year. Several of the latest market projections are looking more bullish than expected, some saying that the negative economic scenario could push spot prices up to and beyond the all-time record high of $1033 per ounce by the end of the month. The inverse correlation between the metal and the United States Dollar may continue, so it’s very important that investors track the dollar index when looking to maximize their investment potential.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
