January 7 - Daily Gold Coin Update
January 7, 2009 – Gold coin projections continue to look positive despite some minor setbacks that have decreased the spot price of gold and other commodities including the United States Dollar. Gold spot price is trading at around $841.90 per ounce, down 2.62% for the day but still up 9.1% in the last 30 days. The current gold coin projections are saying that we could see spot prices anywhere between $950-$1200 per ounce, roughly about 10% to 40% higher than current values. This is a major possibility as the United States Dollar continues to fall against its major currency rivals, increasing the medals attraction as the ultimate alternative investment.
The economy continues to worsen and President Obama warned that the United States deficits on the trillion-dollar scale could be something we may have to live with for years to come. December 2008 record number of US layoffs unsettled the markets overnight and pulled the United States Dollar down about .54 points on the currency’ index. In 2008, about 1.2 million jobs were done away with which was the most since 2003. Unemployment projections are saying that the 7% level is a high possibility in the near future; this alone could spike precious metal prices to levels seen in the current gold coin projections. The future looks good for investors who own precious metals and with such positive future predictions; this may be a powerful gaining year for all of us. Have a beautiful day and invest well!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
