Certified Gold Prices2 Posted by James Randolph on May 26, 2009
A Small Step Backwards…
May 26, 2009 – Certified gold prices for the most common and widely traded investment grade rare coins are holding on strong today as the spot price of gold takes a small step back based on speculation that the United States Dollar may strengthen based on safe haven demand for the fiat currency while other major currencies tumble. In other news, inflationary fears seem to be receding today due to economic data showing that United States consumer confidence has jumped substantially, and this jump marks the fourth largest spike in 32 years. Despite all of this short-term positive economic data, several market analysts believe that the worst is still to come because what we are experiencing at the moment is simply “confidence-building” by the United States Government in order to further delay the imminent currency collapse that we may face as a direct result of trillions of overprinted dollars. This being said, it’s very important that you keep a close eye on certified gold prices because they may climb significantly in the near future as safe haven demand for non-confiscatable precious metals rises.
By around 2:20 PM Eastern Standard Time, the majority of certified gold prices are remaining flat while the gold spot price takes a very minor step back to around $953.80 per ounce, decreasing $2.70 for the trading day yet still increasing $40.80 in the last 30 trading days. Short-term projections are expecting the metal to experience some resistance around $960 per ounce, yet if momentum pushes the spot price past that level we may come closer to $980 per ounce.
Senior Staff Writer – Certified Gold Exchange