Daily Gold Coin Update
January 15, 2009 – Investors who buy gold bullion coins may want to consider picking up some more because the market is at its three-day decline and near-term projections are saying that a possible spike in price is imminent. Commodities like gold have struggled to take a definitive direction this year due to the heavily fluctuating United States Dollar that is currently standing on shaky ground. The metal has been on an eight-year consecutive gain and this year alone it has lost about 7%, or $60 due to the fluctuation in the dollar. Today’s retail sales results came in for December and they showed a 2.7% decline in sales along with a .7% decline in automobile sales which could increase the metal’s appeal as a safe haven, thus meaning more investors would buy gold bullion coins which would further increase the spot price.
Today, the gold spot price falls to around $812 per ounce, which is an $8.30 decline for the trading day and a $24.90 decline for the month. This has almost become a routine for spot prices lately with almost everything in a state of dismay. Those interested in the market should buy gold bullion coins during a time like this when the market is lower than usual because it’s typical that the market would spike again as the demand increases due to economic turbulence. All we can do is hope for the best and prepare for the worst. Until tomorrow, fellow readers, have an excellent day!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
