Daily Gold Coin Update
February 2, 2009 – Gold investments gained a significant amount of popularity last week due to news of the ever-worsening economy, which in turn signalled the various types of investors to flock to the market in order to profit and preserve some hard-earned wealth. Over the weekend and into this morning we see some short-term selling which is the result of investors looking to make the quick 5% profit that has been experienced with the metal recently. Although prices did fall a bit today, they are projected to continue increasing by the end of the week due to increased worry about the global economic financial crisis continuing to worsen. A lot of the fluctuation is also based on the United States Dollar that is really making some odd movement despite last month 8.3% gain in value. 2009 is proving to be an exciting year for everything from gold investments to certified rare coin investments, which is probably why many financial institutions are recommending diversifying now before it’s too late.
During midday trading the gold spot price is sitting at around $914.60 per ounce, a $12.50 decrease in value for the day but still a $39.70 increase in value in the last 30 days. The projections for gold investments are maintaining their bullish outlook and this is really just a waiting game to see whether or not the economy will get better or worse, which will either drive investors away from precious metals or to flock to them. This is a crucial time to make the appropriate investment decision, so good luck with investing and have a beautiful day.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
