Hoping For The Best Posted by James Randolph on January 15, 2009
Hoping For The Best
January 15, 2009 – Gold’s 5-week low yesterday signalled an excellent time to receive some of the best certified coin prices for those entering the market. It may be way too early in the year to try and guess what rare coins will be worth come December 2009, but many analysts are projecting a bright 2009 for precious metal investors in light the most recent economic news. First of all, sales reported a 2.7%-4.1% loss in December. December is supposed to be a retailer’s strongest season with holiday shopping, but 2008 saw the weakest shopping season in over forty years.
Secondly, with the Dollar still on uneven ground, we see the gold spot price take a small step forward to $810.70 by around midday. That puts us up about sixty cents from yesterday’s spot prices, and it’s certainly a sign of the times, with the Dollar being so unpredictable with the start of the New Year. It looks like spot prices will continue to rise and investors interested in the market may want to take advantage of possibly the best certified coin prices we may see in awhile.
Rare coin projections should also take into account that 2008 saw a record numbers of gold investors. With the increase in demand, it wouldn’t be surprising to see some of the more speculative projections of $2000 an ounce peak by year’s end coming true. Whatever happens, it’s important to take advantage of the best certified coin prices now with such a possibility of increasing in the near future. Have an excellent day!
Senior Staff Writer – Certified Gold Exchange