Daily Gold Coin Update
February 6, 2009 – Canadian Maple Leaf prices have declined in value a bit today and it looks like gold in general might close the week off on its first decline in three weeks due to the usual round of short-term sellers profiting on the small jumps in value that we’ve made during the past few days. Although the prices are on a small decline right now, there’s a lot of expectation that the weaker United States Dollar will spark more investor’s interest in safe haven investments during these difficult economic times. The main fear for everyone is financial instability and loss of wealth, and as long as people feel this way we could see increased gold bullion and Canadian Maple Leaf prices in the weeks and months to come. The current economy is ideal for precious metals to thrive in, which is why if you don’t already own some bars or coins, this may just be one of the best times to make an investment while prices are considerably low.
During midday trading the spot price of gold is in the area of $912.80 per ounce, this is a $1.70 or .19% decrease for the trading day but still a $12.30 or 1.37% increase in the last 365 trading days. The overall long-term potential of Canadian Maple Leaf prices and bullion are being put to the test and for the last eight years they have passed with flying colors. Projections for the short and long-term are looking very bullish and 2009 may be one of the best years to invest in precious metals while we still can. I wish you the best of luck when investing in bullion bars and coins and have a beautiful day.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
