Buy Rare Coins Posted by James Randolph on June 05, 2009
The Never-Ending Tug-Of-War
June 5, 2009 – Investors looking to buy rare coins or gold bullion bars and coins are advised to keep a very close eye on the United States Dollar Index, because in the past few weeks it has built a very strong inverse relationship with the spot price of gold. The tug-of-war continues today as optimistic and pessimistic American investors continue diversifying into their investment of choice, some with hopes that the economy will recover and others with fears that a recovery will not happen for quite a while. It appears that many investors are deciding to buy rare coins today because several of them have truly shown some interesting short-term preservation potential. As you may already know, the gold spot price has fluctuated moderately this week, and several investment-grade certified rare coins have maintained their value despite all of this fluctuation. If you’re looking to buy rare coins, or even gold bullion, it has been highly recommended that you purchase during downturns such as the one that is occurring today in order to potential maximize your investment potential in the short-term.
By around 1:45 PM Eastern Standard Time, the gold spot price is making a sharp downturn today, and it appears that it is headed towards its first weekly decline in five as the United States Dollar rallies. Currently, the daily market spot price sits at $961.10 per ounce, down $19 for the trading day yet still up $65.50 in the last 30 trading days and also up $82.90 in the last 365 trading days.
Senior Staff Writer – Certified Gold Exchange