Daily Gold Coin Update
March 26, 2009 – High relief coins such as the $20 Saint-Gaudens and the new 2009 bullion American Eagles are in high demand at the moment by safe haven investors who seek investments that can preserve wealth and even outperform other financial markets during this recessionary cycle. Today gold is increasing in value for the second day in a row as investors around the world wonder how long the stock market rally will last. The recent flock to equities has slightly lowered the investment demand for precious metals and high relief coins, but gold is still up 6.1% for the year while the stock market is at a decline for the year. The latest predictions are saying that market movement in the next few months could be directly related to the strength of the United States Dollar, which has the possibility of becoming devalued due to the high inflation we may experience as a result of our excessive fiat currency printing. Governments around the world are scrambling to fix their economies, but the long-term effects of this could be devastating for all. Fortunately, precious metals and high relief coins could save wise investors from losses seen in other markets.
Today the gold spot price is increasing in value because of the latest economic data that shows an even worsening economic recession, and it is currently trading at $940.10 per ounce, an increase of $6.30 for the day but still a decrease of $51.60 for the month. Last year around this same time the metal was trading near current prices after achieving the record high of $1033.90 per ounce on March 17. Happy investing.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
