September 18, 2009 Posted by James Randolph on September 18, 2009
September 18, 2009 – Shares of some gold exchanges was down on Friday morning, as investors chose to look towards physical delivery gold to close out the week instead of mining stocks and gold ETFs. Gold exchanges around the United States have reported an increased demand for physical delivery of their metals, largely due to increasing concern about the solvency of the US Dollar and possible gold confiscation issues that could be discussed at the upcoming G20 Summit in Pennsylvania, which announced a 25-year high on unemployment levels today.
Rising unemployment rates, which have spiked to over 12% in certain states, are expected to continue growing for years, even though the Federal Resreve is touting an economic recovery that is supposedly underway. The national unemployment rate is now just below the 10% line that many economists predict will be passed before the end of 2009 as factories and corporations around the US are closing their doors. Long-term unemployment is a problem that no one is talking about, and it is a problem that could be a key factor in preventing financial stability inside the United States. If there are no jobs for workers, then there is no income, which means that there is no spending, which means that the vicious cycle of lost financial security continues. Reputable gold exchanges help investors get a back-up plan by putting the gold in their clients’ hands.
The active gold spot price, which is used to determine the cost of physical delivery gold bullion, is $1012, a 0.13% decrease for the day. Some gold exchanges also buy and sell certified gold coins, which trade on the same exchanges as bullion, and carry a numismatic premium that adds privacy and protection to investors’ portfolios. Gold bullion and certified gold for physical delivery can be tracked live at www.goldprice.net.
Senior Staff Writer – Certified Gold Exchange