Daily Gold Coin Update
July 10, 2009 – South African Krugerrand prices are rebounding today, yet gains are limited as many investors in the United States are still cautious with investing markets in general as the United States Dollar Index continues to fluctuate unstably, thus giving little direction for gold. Today’s higher South African Krugerrand prices are being led by a slightly higher gold spot price that has inched its way up to $913.30 per ounce, increasing $1 for the trading day, yet decreasing $40.80 in the last 30 trading days. The latest short-term market forecasts are showing mixed predictions, with several market analysts predicting higher spot prices as a result of heightened inflationary concerns and others predicting lower spot prices as a result of a slightly stronger United States Dollar.
Safe haven demand for gold is emerging today after government officials mentioned that a new stimulus plan could be created in order to strengthen the United States infrastructure. This is causing many American investors to believe that long-term inflation is almost inevitable, thus several of these investors are now flocking to popular gold products like the South African Krugerrand that is well known as a cost-effective way to enter the market without having to pay a large premium, because 1-ounce South African Krugerrand prices are the lowest of all 1-ounce bullion coins. If you are looking to maximize your short-term profit potential with these popular coins, it is highly recommended that you keep a very close eye on the United States Dollar Index because gold and the fiat currency have been trading on a very powerful inverse correlation since the beginning of the year.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
