Daily Gold Coin Update
February 24, 2009 – Last week’s rally to precious metals left many investors with the urge to purchase more coins when the time was right, and today’s lower gold coin pricing is proving to be an ideal time for an investment to be made in gold. As usual, investors are noticing the metal taking a breather after reaching its 11-month high of $1007.70 last Friday and it’s during these times that they like to enter the market again in order to benefit from another spike in gold coin pricing that could occur in the coming weeks. A prediction that I read earlier on Bloomberg.com said that there will continue to be a surge in physical demand metals as investors relentlessly seek a safe haven asset and thus it is believed that the $1000 per ounce benchmark could be seen again in the next week or two. With such a high possibility of gold coin pricing reaching its all-time high in the next few weeks, isn’t it about time that we diversify our investment portfolios to better prepare for the future?
Today as the short-term investors sell their metals, long-term investors continue to seek safety in the market which is bringing the spot price of gold to around $966.30 per ounce, down $25.40 or 2.56% for the trading day but still up $21.70 or 2.30% in the last 365 trading days. Although the metal has seen some solid profitability in the last eight years, more and more people are turning to it as a store of wealth with the profit potential as an added bonus. I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
