Daily Gold Coin Update
January 26, 2009 – NGC gold coins along with most precious metals see some increase in prices and demand today as the United States Dollar continues to weaken versus its major competitors and investors continue to seek a way to hedge their assets from further losses. Last week we were saying the greenback and gold heading up at the same time, but like I said, it would not last long and sure enough this week the Dollar took some significant blows and investors are realizing this and diversifying into safe haven investments as soon as possible. It’s been said that the upcoming $825 billion stimulus plan by President Barack Obama will inject so much money into a failed banking system that there is little chance of success, and even if it was successful it could take quite a while for positive effects to be seen. In the long run, we could most likely see a high inflationary period, which in turn would spike the value of NGC gold coins to significant highs.
During midday trading gold is at around $904.60, up $6.30 or .70% for the day and also up $35.90 or 4.13% for the month. Things continue to look good for NGC gold coins as well as precious metals and if we look at the current market as well as the supply and demand we can see that gold may surpass last year’s record high and possibly reach the area of $1200-$1500 by midyear depending on the state of the economy. It’s highly recommended by many banks and market analysts to invest while prices are low especially with such high expectations coming for the metal in the near future. Good luck with investing and have an excellent day.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
