20.Saint.Gaudens.Coins Posted by James Randolph on May 08, 2009
The Tug-Of-War Continues…
May 8, 2009 – The tug-of-war continues today and it appears like gold is caught in the middle between investors who want to purchase as a hedge from inflation and those who want to sell because they feel that the financial crisis is coming to an end. Several investment-grade certified metals like the $20 Lady Liberty and $20 Saint Gaudens coins are holding onto their value quite well today despite small downward fluctuation in the daily market spot price of gold. Gold is showing a very close inverse correlation with the United States Dollar that is weakening this week based on negative economic data. US unemployment has recently climbed to 8.9% and this shows a major vulnerability with the economy in the short term as well. In other news, the Federal Reserve has announced that 10 banks will need to raise nearly $75 billion in capital in order to stay afloat if the global financial crisis gets any worse. Fortunately, wise American investors could hedge themselves from a weakening economy by purchasing $20 Saint Gaudens coins that are considered an ideal asset to own when inflation is on the rise and fiat currencies are devaluing.
By around 12 PM Eastern Standard Time, the gold spot price is showing minor losses, currently trading at around $908.90 per ounce, down $1.10 or .12% for the trading day yet still up $28.90 or 3.28% in the last 30 trading days. Several $20 Saint Gaudens coins are shining at the moment because their preservative attributes are allowing the coins to maintain value despite the tug-of-war in spot price.
Senior Staff Writer – Certified Gold Exchange