All Eyes On The Economy Posted by James Randolph on January 09, 2009
All Eyes On The Economy
January 9, 2009 – Certified coin values hold on strong as the first full trading week of 2009 comes to an end, and the United States economy prepares for one of the hardest times in history due to extended losses in the United States Dollar and crippling unemployment numbers. It was reported that the United States economy lost 524,000 jobs in December, which closed out the worst year for job losses since the end of World War II. In the last four months, we’ve lost 1.9 million jobs, which is the biggest loss since 1945 when 2.75 million jobs were lost as a result of the ending global war. Unemployment rates rise to 7.2%, which is the highest in 16 years. All of these events are triggers for higher gold spot prices and certified coin values.
Although gold fell a bit today, trading at around $846, down $10.90 or 1.27% for the trading day it is still up $36.40, or 4.5% in the last 30 trading days. It came as quite a surprise this morning that prices fell but it’s only a matter of time before these economic triggers spark further interest in investor’s minds to pick up some gold before things get really bad. I’m expecting some dramatic action to start picking up around Monday or Tuesday as the newly released job loss data takes full effect.
As mainstream investors continue to lose money in the ever fluctuating stock market, certified coin values have maintained significant value and although the spot price has risen and fallen in the last several weeks, they have only affected certified coins in a positive way and they have not fallen in price in quite a while. Let’s hope things continue getting better, but until then invest while you can. Have an excellent day!
Arthur McGuire Senior Staff Writer – Certified Gold Exchange