Daily Gold Coin Update
April 22, 2009 – Several investment grade PCGS certified coins along with the majority of bullion coins are increasing in value today as the gold spot price begins to see solid rebounds after growing signs of inflation and failing equity markets created sentiment that the global recession is only getting worse by the day. Yesterday was a rather stale day for precious metals trading because many investors were eagerly awaiting further economic data, yet today many of these investors are deciding to diversify into PCGS certified coins because historically they act as a solid preservation tool when inflation and other negative economic problems are occurring. The reason why physical possession gold is becoming so popular at the moment is because a proper diversification could hedge an investment portfolio from losses seen with mainstream financial markets such as stocks and bonds that are currently in grave danger of becoming devalued side-by-side with the United States Dollar and other major fiat currencies.
By around 12:30 PM Eastern Standard Time, many PCGS certified coins are showing small signs of gains along with the New York spot price of gold that is currently at around $892.60 per ounce, jumping up $9.30 or 1.5% for the day yet still dropping down $23.60 or 2.58% in the last year. The overall yearly loss is not very significant, and market analysts are expecting the spot price to continue increasing in value in the near future, hopefully erasing this annual decline and possibly heading into a solid incline for 2009.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
