September 24, 2009 Posted by James Randolph on September 24, 2009
September 24, 2009 – Certified gold coins have shown increased profitability over gold bullion items during the last year. Certified gold coins, although not right for every investor, have certainly provided more than a glimmer of home to many families within the United States. The Group of 20(G20) Summit is being held in Pittsburgh, PA for the next two days, and news from this conference of the world’s financial leaders could transport the gold price to new levels.
Federal Reserve Chairman Ben Bernanke believes that the deepening recession is "very likely" over, and President Barack Obama hopes that is the consensus among other nations. Owners of large amounts of US debt have pushed Obama to strengthen the world’s reserve currency, and China has even called for the Dollar to be replaced. Deutsche Bank chief economic strategist Larry Adam believes that inflation of the Dollar could get much worse over the next few years. High inflation could be good for gold, unless the government decides to seize it again. The 1933 gold confiscation by President Roosevelt is not a concern for some short-term bullion investors, but those who plan on long-term holds are moving their money into certified gold coins. Coins that are graded by a reputable third-party agency like the Professional Coin Grading Service and the Numismatic Guaranty Corporation are non-confiscatible and they tend to do better financially for investors who plan on holding their coins for 14 months or longer.
The current spot rice to buy gold bullion products is $995.10. This is a 5.35% increase in gold’s per ounce value in the last 30 days, and market-makers project gold to blow past the $1000 mark and hit a new record-high price before the end of 2009. keep up with the latest gold news, prices, and projections at www.goldprice.net.
Senior Staff Writer – Certified Gold Exchange