Daily Gold Coin Update
February 18, 2009 – Gold coin projections have been the talk of the day as many investors feel that precious metals could thrive during this financial crisis and that spot prices have the possibility of doubling and even tripling in value as the economy continues to get worse. In the last year, the overall demand for physical possession bars and coins has risen by 87%, which is causing metal shortages around the world. For example, the demand is so high at the moment that last year the United States Mint ended up selling 860,500 ounces of gold bullion to institutional investors. In the last few weeks alone we have seen many gold coin projections become a reality, with the metal peaking to its seven-month high and then stabilizing as usual due to a round of short-term investors doing their selling and profit-taking. As long as the financial crisis continues to strike fear into the minds of investors around the world, we could see prices continue to increase past their record highs and into “uncharted territory.”
Gold coin projections have been looking bullish since the beginning of the year and are even looking more optimistic as the current economy proves that it may not get better for a long time. Today, the spot price of the metal rises up to around $973 per ounce, which is an increase of $3.80 for the trading day and also increase of $67.20 for the year. With predictions saying that we could see anywhere from $1500-$2500 per ounce by the end of the year and even as high as $4000-$5000 per ounce by 2012, it definitely makes sense to diversify our assets appropriately in order to benefit from these increases in value. I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
