September 17, 2009 Posted by James Randolph on September 18, 2009
September 17, 2009 – Information on the US housing market is causing many American markets to remain flat during Thursday’s trading session. Certified gold prices dropped slightly, allowing investors who have been waiting for a pause in price jumps to pull the trigger and enter the certified gold market. The current US housing crisis, fueled by the government’s offering of a $8000 rebate for first-time home buyers, has helped some certified gold investors see 400% profits, although the numismatic metals are still 200-400% below their historical highs.
Economist Joshua Shapiro believes that gains in the housing market could be a rarity for the next few years, as a national credit crunch and a plethora of homes that are already on the market might negatively affect home prices that have already lost an average of 25% of value since the beginning of 2009. Real estate prices from Florida to California are suffering from saturated housing markets that are projected to lose another 20% of value in the next four quarters. Investors are seeking assets that are more liquid than real estate, because homeowners and realtors are reporting a record number of properties that have been on the market for longer than a year. Certified gold coins are liquid around the world, and their historical non-confiscatibility offers investors a sort of privacy that is not available with real estate because of the US government’s eminent domain laws.
Certified gold prices, which can be tracked live at www.PCGS.com, fluctuate based upon a number of factors, including the active gold spot price and safe haven demand. These coins trade on the same exchanges as gold bullion, which is currently valued on the NYMEX at $1016.10 per ounce. Certified gold products and gold bullion can be tracked live at www.goldprice.net.
Senior Staff Writer – Certified Gold Exchange