Daily Gold Coin Update
March 16, 2009 – Mint gold coins are continuing to increase in demand despite the spot prices of the metal falling today due to investors flocking into stock markets based on a cloud of confidence that has arisen yet again with American investors. Gold mints around the world are reporting an increasingly higher demand for their mint gold coins as the increasing financial instability and potential hyperinflation continues to drive fear into the minds of those looking to preserve their wealth. Precious metals are currently experiencing a light correlation with equity markets and the United States Dollar, and short-term projections are saying that the metal could trade between $900-$950 per ounce until the end of the week when it could possibly begin its rebound into the $1000 per ounce area. Investors should be fully aware that diversifying their assets now could be a wise idea for the future especially since the economy may begin to turn around for the worse in a split second with even the tiniest of negative economic news.
During midday trading, mint gold coins are losing a bit of value with the spot price that is currently at $921.50 per ounce, coming down $7.90 or .85% for the trading day. The currently lower spot price is signalling an excellent time to purchase precious metals, especially since they are predicted to increase in value due to European governments printing fiat currency in order to buy government and corporate bonds in an attempt to hedge deflation. Happy investing.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
