Certified.Gold.Coin.Prices Posted by James Randolph on May 04, 2009
May 4, 2009 – Increasing safe haven demand in the United States is pushing up bullion and certified gold coin prices as the dollar weakens down to a three-week low versus the euro. Certified gold coin prices tend to increase in value when the dollar declines because the metal becomes cheaper for investors with other fiat currencies. In other news, uncertainties about the United States’ bank stress tests are causing lower risk taking demand because many American investors believe that several banks will crack under the pressure of this worsening financial crisis. Despite the lower risk taking demand, several stock indexes are increasing due to a few corporate earnings reports showing better-than-expected profit. Many market analysts firmly believe that the gold spot price may trade inversely to the United States Dollar and stock markets as the recession worsens and investors flock into safe haven assets as opposed to the riskier equities and bonds.
By around 11:30 AM Eastern Standard Time, it appears like certified gold coin prices for the common date investment-grade rare coins are increasing along with the values of modern-day bullion bars and coins because the spot price of the metal has climbed to $903 per ounce, up $17.40 or 1.98% for the trading day and also up $47.70 or 5.58% in the last 365 trading days. Short-term predictions continue to look positive, so make sure you keep a close eye on the results of the bank stress tests as well as the overall strength of the United States Dollar and stock markets.
Senior Staff Writer – Certified Gold Exchange