September 23, 2009 Posted by James Randolph on September 23, 2009
September 23, 2009 – The gold spot price dropped slightly on Wednesday, even as certified gold investments posted a 4.1% median gain. The pullback in bullion prices was attributed to stockbrokers and others on Wall Street who decided to shift back in to the same types of exotic investments that were common before the financial meltdown began. A Yahoo Finance article by Anne Flaherty reported on Tuesday evening that President Barack Obama is losing steam in his efforts to shape up Wall Street and the banking system, and this could cause more spikes in certified gold prices.
Flaherty’s article points out that multiple measures are being taken to ensure that Obama’s plan to implement government oversight of businesses fails. Lawmakers are questioning aspects of the proposal, and banks are gaining leverage against his consumer protection clause, which could put more power in the hands of the government. Obama’s frustrations with the banking system could be heard in the fast-approaching G20 Summit, where possible "solutions" for a crumbling economy may be discussed. Fear of another Great Depression and Dollar insolvency is why many Americans invest in certified coinage, and their historical safe haven status could hold true today. If Obama decides to enact a second US gold confiscation, certified silver and gold coins could provide the back-up plan that so many people are looking for.
The Certified Gold Exchange trades bullion and certified precious metals. Certified Gold Exchange specializes in assisting household and institutional investors who want to buy and sell precious metals. More information on gold and other precious metals is yours at www.precious-metal.org. The current gold bullion spot price is $1013.30, which is $2.30 below opening values. Gold has moved up since 2001, and both bullion and certified investments have made some investors over 400% in that time period.
Senior Staff Writer – Certified Gold Exchange