Daily Gold Coin Update
March 18, 2009 – The value of gold coins in the bullion varieties are showing a sharp decline while the investment-grade certified rare coin varieties have been holding onto their value since February 21when the metal reached $1007 per ounce. Market analysts are projecting that short-term movement will stay in the area of $890-$900 per ounce until safe haven demand starts to pick up. It seems like investors are beginning to put money back into stocks, yet they may not understand the long-term problems that could occur with them, such as failing corporations and hyperinflation that would be havoc-causing on financial markets. One of the main reasons why the value of gold coins is decreasing at the moment is because of the latest United States economic data showing a surprising bounce in housing starts, which in turn boosted the confidence in our economy and dollar. Speaking of the dollar, it’s also important to know that US consumer prices are moving up for the second straight month in a row, proving that inflation is becoming more apparent by the day.
During the midday trading hours the value of gold coins is showing some small decreases with the spot price that currently sits at $887 per ounce, falling $27.50 for the trading day and also falling $53.70 in the last 30 trading days. Many market analysts are expecting prices to rebound when the demand for store of wealth assets arises due to inflation and other negative economic factors. Invest well and remember to diversify your assets appropriately.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
