Certified Gold Coin Prices Posted by James Randolph on August 03, 2009
All Eyes On Economic Growth
August 3, 2009 – Certified gold coin prices are benefiting today as speculation about economic growth is causing many investors to believe that the United States Federal Reserve may increase interest rates sooner than expected, thus creating an excellent economic environment for high inflation. All eyes are currently on economic growth as the Standard & Poor’s GSCI Index has risen 3.3% while the United States Dollar Index continues to flounder, down .56 points to 77.59. According to several market analysts, certified gold coin prices might continue to increase within the next few quarters as a moderate acceleration in economic growth could spark higher safe haven demand because wise investors may begin protecting their hard-earned wealth from the incoming inflation. The United States Government has already mentioned that inflation will be a necessary part of an economic recovery, thus it’s no surprise that American investors are taking advantage of the recently lower certified gold coin prices in order to potentially benefit if prices rise.
By 11:45 AM Eastern Standard Time, certified gold coin prices are extending their gains, up to six week highs based on a floundering United States Dollar that has lost significant value in the past few weeks. Currently, the gold spot price is trading at $961.50 per ounce, increasing $7 for the day and also increasing $29.70 in the last month. The latest short-term market forecasts are predicting a broad trading range with gold, meaning that spot prices could fluctuate between $925 per ounce and $975 per ounce within the next few weeks.
Senior Staff Writer – Certified Gold Exchange