Daily Gold Coin Update
January 29, 2009 – Gold coin investments are proving their strength during our financial recession as almost everything else around us is falling as a result of the ever-weakening economy. This morning we saw some small decreases in the price of the metal but after news of the record high unemployment rates and companies losing profits left and right, investors were once again interested in the metals the ultimate alternative safe haven asset. Today we see the stock market stop dead in its tracks as there is a lot of speculation about President Barack Obama’s $819 billion stimulus plan that was approved by the U.S. House yesterday. With the current economy anything could go, which is why it has been recommended by many banks and financial institutions to take positions with gold coin investments before prices jump to their highs that are expected by midyear.
Today we see the gold spot price climbing to around $893.70 per ounce, which is a $7.30 increase for the day and a $13.10 increase in the last 30 days. With the latest projections about the metal saying that this could be one of the most powerful years for gains as the economy continues to worsen, it certainly makes sense to invest while we still can because it’s almost certain that once prices start spiking dramatically, that the market would be boxed in by big-time investors spending billions of dollars to protect their own assets. Invest well and have a beautiful day.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
