Daily Gold Coin Update
March 6, 2009 – Several of the investment-grade PCGS and NGC gold coins are increasing in value again as precious metals are becoming the ideal asset to own at the moment due to the instability with mainstream investments and the United States economy. Yesterday many investors saw their stocks plummet when the Dow Jones Industrial Average fell 4.1%, bringing its overall decrease for the year up to an astonishing 20%. Gold on the other hand, has increased in value 6.5% for the year, which has been beneficial for bullion and NGC gold coins. Short-term predictions are saying that United States investors will continue to purchase the metal heavily until signs of a stronger economy become apparent. Unfortunately, the storm ahead looks a lot worse than we expected, thus safe haven demand could continue to increase into the upcoming months and years.
Today the daily market gold spot price is moving up for the second day in a row and it is currently at $938.70 per ounce, an increase of $6.30 for the day and also an increase of $32.80 for the month yet a decrease of $35.20 for the year. Common date investment grade NGC gold coins like the $20 Saint-Gaudens are projected to see significant gains as long as the safe haven demand for gold continues to increase to their predicted levels that could bring spot prices to around $1200 per ounce by the end of the year. 2009 has already shown us a large amount of fluctuation with financial markets, so let’s see what the year has in store for us as it progresses.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
