Daily Gold Coin Update
May 22, 2009 – South African Krugerrand prices are well known by many American investors as being some of the lowest priced modern-day bullion coins because the South African Government charges a low premium above the daily market spot price for their national bullion coinage. These South African Krugerrand prices are usually no more than 3% to 5% higher than the daily market spot price and investors who seek more affordable 1-ounce coinages typically take advantage of this lower premium so that they can obtain more coins when making large investments. Today it appears like the majority of gold products are increasing in value as the spot price extended its gains for the fourth trading session in a row as masses of investors are running away from stocks and bonds in exchange for physical possession bullion bars or coins and investment-grade certified rare coins. It is highly recommended that American investors keep a very close eye on the strength of the United States Dollar in the short-term because inflationary pressures may continue to devalue the fiat currency, thus potentially increasing the spot price significantly based on a spike in safe haven demand.
By around 12:45 PM Eastern Standard Time, South African Krugerrand prices are showing minor gains for the trading day as a powerful rally for gold has officially begun, and it appears like the metal is headed towards its third consecutive weekly gain as the spot price climbs to $957.60 per ounce, jumping up $3.70 for the day and also jumping up $37.20 in the last year.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
