Daily Gold Coin Update
June 2, 2009 – Breaking news! The United States Dollar is currently losing value while the price of gold coins continues heading in the upward direction. Surprised? You shouldn’t be. Since the beginning of the financial crisis in December 2007, investment markets in general have been hammered as fears of inflation and deflation have created a tug-of-war between investors who feel that the economy will recover and those who feel that we are well on the way to the second Great Depression. The economic contraction that we are experiencing at the moment has been in the works for several years now, and since 2001 the economy has slowly but surely spiralled down into this current financial crisis. What many investors do not know is that the price of gold coins has increased more than 300% since 2001 because many wise American investors took the opportunity to diversify into the metal because they feared that the stock, bond and real estate bubble would burst. Sure enough, the bubble exploded and mainstream financial markets have lost significant portions of their value while precious metals have thrived amidst this worsening financial crisis.
By around 1:30 PM Eastern Standard Time, the price of gold coins is showing moderate gains for the trading day, currently sitting at around $982.40 per ounce, increasing .80% for the day and also increasing 10.34% in the last year. It is highly advised that gold coin investors keep a close eye on the negative correlation between the spot price and the United States Dollar, especially since the fiat currency may extend its losses in the near future as both an inflationary and deflationary pressures become more apparent.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
