Daily Gold Coin Update
February 19, 2009 – Gold coin projections are looking bullish across the board and its all because many wise market analysts believe that the ongoing problems with the economy will only drive more investors into the precious metal markets. During the beginning of January, many important financial institutions set their gold coin projections for 2009 and believe it or not, several of them were bearish and believed that the metal would head into the $700 per ounce area due to the economy restoring after a minor fall. Shortly afterwards, these predictions were changed after the news was let out that the financial crisis was only getting worse and that the recession would only deepen in the coming months and could even turn into another Great Depression unless the appropriate government action was taken. Now what we are witnessing are many projections saying that the metal could surpass its record high of $1033 per ounce and continue climbing into the area of $1500-$1800 per ounce. It’s clear to see that there is a lot of potential with bullion and certified rare coins at the moment.
Although spot prices have fallen a bit during the early morning trading hours, there is still a lot of speculation that prices will rebound and that this is simply a short-term sell-off from profit-taking investors. The spot price of the metal sits at around $971.80, which is a decrease of $11.70 for the trading day and an increase of $116.10 in the last 30 trading days. The recent gold coin projections are showing that the sky is the limit with precious metals, so I wish you the best luck when investing and remember to diversify well.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
