Daily Gold Coin Update
April 24, 2009 – The United States rally to bullion and PCGS gold coins continues today for the third trading session in a row as a wide variety of external economic factors continues to put pressure on the long-term security of portfolios nationwide. Some of the most important news occurring today is related directly to the United States banks that will receive the preliminary results of government stress tests. Speculation is saying that these banks will continue to struggle in the short-term in order to raise sufficient funds due to toxic assets that have nearly tripled in the last year. These tests will basically measure the overall health of 19 American banks focusing on their loan quality, because that happens to be the most significant factor that investors are worried about at the moment. Any further negative economic data coming from the stress tests could create a spike in safe haven demand, which in turn may continue pushing spot prices and the overall value of PCGS gold coins higher-than-expected.
By around 11:40 AM Eastern Standard Time, the Certified Gold Exchange is reporting higher physical possession demand for PCGS gold coins like the $20 Saint-Gaudens and the $10 Indian Heads based on the fact that the spot price of the metal is increasing with no sign of stopping in sight. The gold spot price is currently at around $910.50 per ounce, jumping up seven dollars or .77% for the day yet still falling down $23 or 2.46% in the last 30 days. We recommend that investors keep a close eye on the results of the latest stress tests in order to determine whether or not they should diversify further into precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com at
