Daily Gold Coin Update
February 9, 2009 – South African Krugerrand prices have come down a bit today as a result of a few external factors that are causing fluctuations in most commodities and investing markets. In the past few months we have seen interest rates being slashed to zero and governments around the world are injecting massive amounts of money into their economies in an attempt of fixing what has long been broken. The future of the United States economy in particular is going to rely on the stimulus and bank plans that are being negotiated right now by our government. We see both pessimistic and optimistic views on what could be the turnout of these plans but when all is said and done, whether it works or not, we could be seeing some dramatically higher inflation which in turn could raise the value of precious metals as well as South African Krugerrand prices. Tomorrow we will find out the outcome of our stimulus along with both short-term and long-term predictions about the future of the United States economy and our once “supreme” Dollar.
Today gold coins lose some value due to the metal spot price coming down to around $900 per ounce, an $11.40 decrease for the trading day and a $58.00 increase in the last 30 trading days. Earlier I was reading the most up-to-date projections for gold and South African Krugerrand prices and to nobody’s surprise I found a lot of expectation that the worsening economy could result in some positive gains in the near future. I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
