Daily Gold Coin Update
March 3, 2009 – Several PCGS certified coins have outperformed the majority of investments at the moment, even gold bullion that has lost about 9% since it peaked at $1007 per ounce on February 20. There has been a lot of fluctuation with the financial markets lately, especially commodities and equities that are suffering from the problems being seen during this financial crisis. Fortunately, PCGS certified coins such as the $20 Saint-Gaudens and $10 Indian Heads have maintained some impressive stability that is commonly seen with the correct investment grade rare coins. Several market analysts believe that gold coins and PCGS certified coins have the potential to outperform other weaker investments such as stocks and bonds as a result of the possibility of the United States economy entering an even worse inflationary or deflationary economic environment. Hopefully, investors can diversify their investment portfolios before further losses may be witnessed with unstable traditional investing methods.
The gold spot price is taking a few steps back today, falling to around $915.20 per ounce, which is a decrease of $10.20 for the day and also a decrease of $11.90 for the month, yet the majority of projections believe that this will only last a very short time and that the market will rebound soon enough when the global economy shows further signs of weakness. As you may know, the average projection for gold during 2009 is in between $1000 and $1250 per ounce, which could mean the potential for growth as things get worse with other markets.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
